The pharmaceutical giant has been struggling with declining sales and declining profits as it struggles to regain control of its once dominant drug development and manufacture business.
Apple, meanwhile, has struggled with a lackluster iPhone launch and falling iPhone sales, and the company is struggling to recover from a devastating stock price drop in recent weeks.
Apple shares are down over 70 percent this year, making it the second-worst performer on Wall Street after Amazon, which lost about 8 percent in 2017.
The Nasdaq Composite Index has lost nearly 7 percent this week, according to FactSet.
Apple has struggled to regain its footing in the drug development field, which has been plagued by an array of issues.
The company has been battling an array inefficiencies and delays in getting new drugs to market, which have created problems for patients and patients’ healthcare providers.
Apple’s stock is currently trading at $99.67, down about $7.60 from the high of $120.15 a year ago.
Its share price has dropped almost 6 percent in the past two years.
Apple’s stock has also been hurt by a series of legal battles, including a class action lawsuit that Apple is part of, which was filed in December 2017.
That case is still pending, and it has yet to be decided whether the case will go forward.
