Pfizer's Business Development Transition: From "Revenues Now" To Pipeline Development

Pfizer will be active in business development, management said, but with a focus on building out the pipeline with bolt-on deals in the range of a "few billion." Gene therapy remains one area of interest.

Pfizer Inc. is reorienting its business development strategy from bringing in "revenues now" to building out the pipeline, CEO Albert Bourla said during the company's first quarter sales and earnings call April 30. The chief executive has been outspoken about his desire to avoid mega-deals since taking over as CEO Jan. 1 from Ian Read and offered a few more details on the company's business development strategy, which includes continued interest in gene therapy.

"Before we were targeting revenues now or soon … because this is what we needed at the time," Bourla said....