14 Low PE High Dividend Stocks to Buy Right Now

2. Pfizer Inc. (NYSE:PFE)

Dividend Yield as of March 10: 6.33%

Forward P/E Ratio: 9.06

On March 6, Reuters reported that China has approved Pfizer Inc. (NYSE:PFE)’s GLP-1 treatment Xianweiying for long-term weight management in overweight or obese adults. Pfizer shared the update on WeChat on March 6. The approval adds new competition to a market that analysts expect to grow into a multi-billion-dollar opportunity.

“This marks a breakthrough in the field of weight management,” Pfizer’s licensing partner Sciwind Biosciences said on its website. In February, Pfizer secured the mainland China commercialization rights for Xianweiying, which is also known as ecnoglutide. The rights were licensed from Sciwind, a company based in the eastern city of Hangzhou.

Sciwind previously said the agreement was “an important first step to advance Pfizer’s global strategy in the metabolic field in China”. The approval strengthens Pfizer’s position in the fast-growing weight-loss drug market.

The company has also been expanding its presence in the obesity treatment space. It recently acquired obesity drug developer Metsera and also obtained another experimental GLP-1 drug from a different developer.

A Pfizer spokesperson told Reuters that Xianweiying is administered as a once-a-week injection. The spokesperson declined to comment on pricing or when the drug might launch in China. Ecnoglutide is also approved in China as a treatment for Type 2 diabetes.

Pfizer Inc. (NYSE:PFE) is a research-based global biopharmaceutical company. The company focuses on the discovery, development, manufacture, marketing, sale, and distribution of biopharmaceutical products worldwide.