Two well-known pharma equity research analysts are resisting the chorus calling for Pfizer’s break up. Richard Evans and Scott Hinds of Sector & Sovereign Research, LLC, have written a note arguing that large spin-offs, leaving only a “core Pfizer,” would result in little more than a declining pharma company with some cash cows facing imminent patent expiry. (Evans is also the author of a book on health reform, which was published in August 2009 – arguably the high-water mark of opposition to the Democrats’ reforms. We might want to re-read it once the March 2010 law is overturned or repealed.)
