Breakdown of the situation with Teva and Pfizer. Teva is currently a turnaround play as they shift their business model to mix generics with new internal drugs, but it carries higher risk and they don't pay a dividend. Pfizer yields 6.3% right now but has its own issues, specifically patent expirations and falling behind competitors in the GLP-1 weight loss drug market. Their payout ratio is over 100% which is usually a warning sign, but management says they plan to maintain the dividend. The argument here is that Pfizer is just dealing with normal industry cycles while Teva is undergoing a much harder structural overhaul.