19.96%SPY 79.52 
5.39%XLF 9.68 3.09%
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NEW YORK - Shares of pharmaceutical companies opened lower Tuesday, with several stocks hitting multiyear lows, as the broader market fell over a surge in oil prices and continued concerns over inflation.
In industry news, Pfizer Inc. said it completed its $195 million acquisition of Encysive Pharmaceuticals.
Here's how some key drug makers performed Tuesday:
Schering-Plough Corp. down 22 cents to $19.44.
Merck & Co. down 58 cents to $36.41, after dropping to a two-year low of $36.12.
Bristol-Myers Squibb Co., down 45 cents, or 2.2 percent, to $20.19, after bottoming out at $20.03, its lowest point in more than 12 years.
Pfizer Inc. down 13 cents to $17.89, after trading as low as $17.71, its lowest point in nearly 11 years.
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