Pfizer Inc. Mergers And Budget Cuts Hurt Cancer R&D

At Pfizer PFE +0.35%’s second quarter 2014 earnings call, Ms. Jami Rubin, an industry analyst for Goldman Sachs, posed Pfizer CEO, Ian Read, the following question. “And then, I don’t know if Mikael Dolsten is on the call, but just a question on business development, analyzing, outlicensing activity. We’ve seen recently a couple of high profile outlicensing deals, tremelimumab to AstraZeneca (AZN), neratinib to Puma and regrettably, those look like very unfortunate decisions. And just, Ian, are you looking internally? Are you pleased with the team that you have in place who are in charge with making these critical decisions? Thanks very much.”

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