I spoke to Pfizer’s PFE -0.38% executive team yesterday after their earnings call. A few things they said seem worth passing on in light of the company’s ongoing effort to buy AstraZeneca AZN -0.42% and its plans for its internal R&D.
Do the three businesses – (1) innovative drugs, (2) vaccines, oncology, and consumer health, and (3) established products – have scale to stand on their own? Pfizer CEO Ian Read corrected me that there would be two businesses, a combination of the first two and a global established products business. “We haven’t taken the decision. It’s very premature as to whether they should be separated,” Read said.
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