In Vivo is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By


Pfizer's Balancing Act

Executive Summary

Unlike other major companies, Pfizer has successfully counterbalanced the disappointments of its internal R&D with the certainties of other companies' marketable products--first through co-promotions, and later through acquisitions--and its own sales capabilities. But things seem to have changed: by acquiring Pharmacia, Pfizer does as much as it can to assure investors above-average industry growth for the next several years and dilute the impact of the genericization of major products in 2006-7. But the deal also may limit Pfizer's ability to access new late-stage compounds, and thereby hedge the risk that its own pipeline won't produce, as potential licensers evaluate the implications of hooking up with a company which has gobbled up its two most important partners. Instead, Pfizer must depend on M&A to counterbalance risk of R&D failure-but given stronger anti-trust concerns and Pfizer's own breadth of R&D and product line, its acquisition choices will be limited. Nonetheless, with its near-term growth problems settled, Pfizer has created for itself important breathing room unavailable to most of its competitors--and thus greater ability to take advantage of new opportunities that develop.

Related Content


Related Companies

Related Deals




Ask The Analyst

Ask the Analyst is free for subscribers.  Submit your question and one of our analysts will be in touch.

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts