Pfizer Surprise hits Drug sector:

Pfizer (PFE-N) caught the market by surprise over the weekend with the announcement that the clinical trials of their promising new drug Torcetrpib have been stopped. The drug trials were being over seen by an independent monitoring agency which called for the suspension of the trial due to adverse patient reactions which have led to the dead of 82 of the participants in the trial.

The trial was being done on a global basis with 7,500 participants the cancellation of the trial sets Pfizer back regarding the potential for a replacement for their current cholesterol drug Lipitor. Torcetipib was expected to be used in combination with Lipitor as a new form of cholesterol fighting drugs.

Pfizer shares are down $3.24 to $24.62 or about 11.5% and have been a negative for the rest of the sector as well pulling down all of the other major drug company shares.

This is the main risk when investing in the drug and biotech sectors the market punishes disappointments and it can take a considerable amount of time before investors are willing to buy the shares again.

Investors who have the patients should be looking at Pfizer as a buy, the current sell off is a reaction to this one particular trial and seems to have dramatically discounted the other potential drugs in development.

For more information go to http://www.campbellreport.com/