Pfizer and Merck are undervalued pharmaceutical stocks with potential for future growth.

The article highlights Pfizer and Merck as undervalued pharmaceutical stocks for long-term investment. Pfizer, facing a 20% stock drop, aims to save $1.5 billion by 2028 while increasing R&D and returning capital to shareholders. Merck, despite operational unprofitability and an expiring Keytruda patent, continues to invest heavily in R&D. Both companies offer low Price-to-Sales and Price-to-Free-Cash-Flow ratios, indicating potential for future growth.