Pfizer's 6.9% dividend yield looks tempting, but there are concerns: key drugs are going off-patent soon (the dreaded 'patent cliff'), and US regulatory pressures aren't helping. The dividend has increased for 15 years, but don't forget it was cut during the Great Recession—a track record some competitors like Merck didn't break. If yield is your top priority, Pfizer stands out, but more consistent, lower-yield alternatives like Merck or Bristol-Myers Squibb exist. For those wary of pharma's ups and downs, real estate REITs like Alexandria, which lease lab space to pharma companies, offer a less volatile route with a still high yield. Bottom line: Pfizer isn't a bad choice, but you should know the tradeoffs and alternatives before buying.