NYSE:PFE   Pfizer, Inc
As you know, Pfizer's biggest product at the moment is the coronavirus vaccine, Comirnati. The company and its partner BioNTech expect it to bring in more than $33 billion this year.

Meanwhile, Pfizer expects revenue from the coronavirus vaccine to account for 42% of the company's total revenue. The vaccine is certainly one good reason to buy stock in this major pharmaceutical giant.

But there is another reason to buy Pfizer stock, and it has nothing to do with the COVID-19 vaccine. It is important to remember that Pfizer has a huge number of commercialized products, including seven blockbuster drugs. Earlier this month, one of them received good news - news that should prompt us to take a closer look at this pharmaceutical company's stock.

Eliquis, the blood-thinning drug commercialized by Pfizer and its partner Bristol Myers Squibb , received a very important decision in the appeals court. The court upheld the original decision protecting the patents on this best-selling drug, including the drug's composition and formula.

This means that the generic drugmaker will not be able to enter the market with a competing drug until April 2028. Pfizer and Bristol Myers will probably file another appeal, but after two courts have already ruled in their favor, one can be optimistic about their case.

This is great news for Pfizer , given the revenue generated from the sale of the drug Eliquis. Last year, Pfizer reported more than $4.9 billion in revenue from the alliance and direct sales of the drug Eliquis. That's a 17% increase over the previous year. And this was during a pandemic when access to non-COVID health care was limited.

Eliquis continues to be one of Pfizer's biggest drugs. In the second quarter of this year, Eliquis generated more than $1.4 billion in revenue. That's a 16% increase over the previous year, and Eliquis was Pfizer's second-largest drug after the coronavirus vaccine.

Of course, generic competition will eventually lead to lower sales of this blockbuster drug. But the court ruling gives Pfizer seven years to develop products that can replace Eliquis as a major source of revenue.

Pfizer has a lot of development going on. One of the most interesting candidates is an oral drug to treat the coronavirus. It would be a pill that people could take within days of the first symptoms, and it could be a game-changer and generate billions of dollars in revenue. Pfizer began Phase 2/3 trials in July and plans to present data in the fourth quarter. The company also recently began a Phase 3 trial of a vaccine candidate against respiratory syncytial infection. Currently, there is no vaccine against this common cause of severe respiratory disease.

Should you buy Pfizer stock because of news about the Eliquis patent? It's not the only reason to buy the stock, but it's one great reason. Add to that the recurring earnings from the coronavirus program. And let's not forget the company's other blockbusters.

Let's not forget the drugs and vaccines that could bring in a lot of revenue in the future. All of this together is a solid recipe for success over time. Pfizer stock is up 25% and is currently outperforming the S&P 500 Index . However, the stock is hardly reflective of all the positives now and in the future. They are trading at 11 times earnings estimates. By that measure, the stock is cheap today.

Pfizer stock is far behind biotech players in the coronavirus vaccine space such as its own partner BioNTech and rival Moderna .
You can't be sure that the situation will change. It's much easier to quickly raise the price of a company with less market value than a major pharmaceutical player. But over time, Pfizer has serious potential to increase revenues and profits -- and that should match the stock's rise. This month's news on the Eliquis patent is a huge step in the right direction.


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