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Pfizer Inc. (NYSE: PFE) has seen its earnings and revenue plummet during the last several years thanks to generic drugmakers invading the market with their lower priced alternatives and a number of large acquisitions over the past few years.
Drugs that are currently in phase 3 trials should provide a kick to PFE earnings. Pfizer has around 10 drugs in Phase 3 trials. Some are biosimilars for blockbuster drugs which, if approved worldwide, could open up a huge market for Pfizer. The market for biosimilars is rapidly growing, and is expected to be around $20 billion by 2020. And if Pfizer’s biosimilars for Remicade, Rituxan, and Herceptin are approved, the company could grab a big chunk of that market.