Albert Bourla, AP

Putting buy­backs on hold, Pfiz­er’s CEO is plot­ting a string of im­por­tant PhII deals in the year ahead. You’ve been alert­ed

Pfiz­er shares took a beat­ing on Tues­day, drop­ping 5% as in­vestors found out that the phar­ma gi­ant fell short on rev­enue pro­jec­tions and wouldn’t be rid­ing to the res­cue with their usu­al cam­paign of buy­backs.

So what gives? Buy­backs have been part of the cul­ture at the com­pa­ny for years.

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