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in the NY Times this morn. See two excerpts and link to article below. Underlines were already in article and represent links (if still live). Worth reading. Have a good one! rg
Pfizer Races to Reinvent Itself NY Times, Published: May 1, 2012
At Pfizer, skeptics have questioned the decision to shed some of its most profitable units in favor of doubling down on the risky pharmaceutical business. Pfizer’s nutrition unit grew by 15 percent and animal health by 17 percent in 2011, while its pharmaceutical sales dipped by 1 percent. And Pfizer has suffered some notable flops over the last several years, including the failure of an experimental cholesterol treatment that was seen as a potential successor to Lipitor and poor sales of an inhaled insulin drug that the company eventually abandoned.
In corporate strategy, Pfizer is following the path of Bristol-Myers, which in 2009 announced plans to spin off the nutrition company Mead Johnson to focus on acquiring small biotech companies. The company has since fared well despite the loss of patent protection for Plavix on May 17. “So long as the blockbuster game was working, people kept playing it,” Mr. Gordon said.
https://www.nytimes.com/2012/05/02/business/pfizer-profit-declines-19-after-loss-of-lipitor-patent.html
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