Major Drug Companies Fall to New 52-Week Lows (PFE, GSK, MRK, LLY, BMY)

Shares of the largest drug companies are falling today amid a broader market sell-off related to liquidity issues and a JPMorgan/Fed bailout at Bear Stearns. The Dow Jones is down just over a percent to 12,038, while the S&P 500 has also moved lower by about a percent to 1,298.

Pfizer (NYSE: PFE), one of the world's largest major drug makers, has fallen more than 2% in the first half of today's trading session. Pfizer's stock most recently traded at $20.76, but went as low as $20.50 to hit a new 52-week low. Shares of Pfizer have fallen nearly 25% since hitting its 52-week high at $27.73 at the beginning of last June.

In addition, shares of Bristol Myers Squibb (NYSE: BMY), Merck (NYSE: MRK), GlaxoSmithKline (NYSE: GSK) and Eli Lilly (NYSE: LLY) have also marked new 52-week lows in today's extremely volatile trading session.

Bristol Myers is trading just off its new 52-week low of $20.83 and most recently traded at $20.89, down $0.52 or about 2.4%.

Merck has moved as low as $40.96, and was down about 2% at that low.

GlaxoSmithKline fell to a new 52-week low of $40.60 - a level its stock hasn't seen since 2004.

Finally, shares of Eli Lilly have moved as low as $47.76, but have since bounced off this low and are now trading near $48.

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