Pfizer Joint Venture with GSK does not help stock price Yesterday, the UK's largest Pharmaceutical company, GSK announced pans to split in two after spinning off its consumer product unit into a joint venture with US rival Pfizer. Shares in GSK closed 3.8 per cent higher in London while Pfizer shares were down 1.01% in NY. www.ft.com The US drug makers' stock remains vulnerable to wider equity market weakness and $42.00 is both a technical and psychological support level. Further downside support is the 38.2 Fib level at 41.70 and the 50.00 level at 40.35. The downtrend could be broken with a breach and hold of 43.53 (23.6 Fib) and 44.30 at the 20 SMA.
