Pfizer will be losing patent protection on drugs which currently account for 60% of the company's revenue, but its CEO, Ian Read, says he will not be chasing big deals to replace the shortfall.
"We are not going to chase revenue at the destruction of capital," Read said.
PharmaGossip: Pfizer CEO Says He Isn’t ‘Chasing Revenue’ in Big Deals as Patents Expire - Bloomberg.
Pfizer, if anything is looking to shrink the company by selling non-core pharma operating units and is also buying back shares. ON the acquisition front, they will only be looking at mid-size companies with attractive mid- to late-stage molecules in their pipeline.
Maybe Read read John LaMattina's article in Nature Reviews Drug Discovery yesterday.
Posted by Bruce Lehr Aug 3rd 2011.
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