News from JP Morgan Conference. What company we buy next?

Discussion in 'Pfizer' started by anonymous, Jan 8, 2019 at 10:51 AM.

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  1. anonymous

    anonymous Guest

    U.S. drugmakers are showing a new appetite for deals after saying for months that they were focused mainly on existing products.

    Pfizer Inc. also said it would include acquisitions among its growth options. Pfizer Chief Executive Officer Albert Bourla said the company was interested in picking up mid- and late-stage assets that it could develop and add to its existing pipeline.

    “We do have the ability because of our balance sheet to do virtually any deal that one can think of in this industry,” Bourla said at the conference.

    Pfizer Strategy

    For Pfizer, any large new deal would represent a strategy reversal. When the pharma giant announced in October that Bourla would succeed Ian Read as CEO, the move symbolized the company’s shift toward emphasizing its internal pipeline efforts over a larger merger or acquisition. Pfizer grew to become the largest U.S. drugmaker in part by snapping up companies. In 2016, it acquired at least eight companies or product lines, including Medivation Inc. for $14 billion.