Stock price when the opinion was issued
Worth taking a good, hard look at. Phenomenal yield, and he likes yield. Chart is starting to form a bit of a bottom. Low PE. Has things in the pipeline that the market's not paying for. If you're a longer-term investor, well worth sitting on it and getting rewarded while you wait for an upside pop from the drugs coming through as hoped.
He's looking at it closely.
Over the last year or so, it has run up a fair bit and is now trading in the range of 15 or 16 times earnings and dividends have come down. A problem he has with pure pharmaceutical companies is that they are very dependent on their pipelines. Pipelines in this business are still pretty good, but unfortunately they are not big blockbuster drugs any more. He prefers something like Johnson & Johnson (JNJ-N) which has pharmaceuticals, medical devices and consumer products.