King of Pain: Pfizer's Move into Abuse Resistant Opioids and the Virtues of Massive Scale

Pfizer’s $3.3 billion acquisition of King eliminates the primary opportunity for investors to play in the abuse-resistant formulation space and renewed questions about the logic of perpetual expansion atop Big Pharma. But the realities of the abuse resistant marketplace suggest it makes a good case for scale and diversity. Is this a sign of things to come in other drug classes?

By Michael McCaughan and Cole Werble

When Sanford Bernstein analyst Tim Anderson was called upon during Pfizer Inc.'s Oct. 12 conference call to discuss a $3.3 billion cash deal to acquire King Pharmaceuticals Inc.,...

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