PFIZER MEETS ANALYSTS

AT A MEETING with analysts in New York City on March 5, Pfizer CEO Jeffrey B. Kindler defended his moves to “change the DNA” of the world’s largest drug company in order for it to take advantage of growth opportunities. Having downsized the company through a series of plant and research site closures and refocused R&D on “high value” disease areas, Kindler claimed Pfizer is moving forward with a more entrepreneurial management structure and leveraging outside expertise through R&D partnerships and small acquisitions. Pfizer, however, will not get larger through a major acquisition any time soon, Kindler said. “I do not see anything that would meet the definition of a megadeal with a strategic value that would outweigh the potential concentration of risk,” he told analysts. Stock analysts have expressed dissatisfaction with Kindler in his first year at the helm, given that the company stands to lose more than $12 billion in sales when the ...