Pfizer Plays Up Its In-house Potential, Avoids M&A Talk

Pfizer execs say they are focused on commercial execution and pipeline development to drive growth. No viable buyer has emerged for the consumer business, CEO Read said.

Businessman draws a statistical trend line

Pfizer Inc. has been expected by many to lead a wave of biopharma M&A this year, but CEO Ian Read largely sidestepped the issue during the firm’s first quarter earnings call, while signaling that he didn’t like the valuations of current options and that the potential market for offloading the consumer business looks dry as well.

“I don't see that we need a transformative deal, nor do I see one at appropriate values right now in the marketplace,” Read told the May 1 call when pressed by an analyst. “We'll continue to use our capital wisely

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required

More from Earnings

More from Business