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- x201C;As co q10 and metformin Pfizer proved with the Pharmacia acquisition, just
having more money to spend on RD and marketing doesn't make you a more competitive threat, or a better company,#x201D; Fisher, the Fifth Third analyst, said. Adding Wyeth's products will keep Pfizer's benazepril annual earnings, after adjustments, at the $2.42 level through 2012, Pfizer said. Finally, he stopped work on more than 100 experimental treatments to focus on a smaller group of diseases. McKinnell didn't return phone calls left at a number listed for him and on telephone-answering can amoxicillin cause low libido machines at two companies for which the executive serves as a director. While being groomed for the chief's job, McKinnell was instrumental in the $120 billion purchase of Warner-Lambert Co., the developer of Lipitor, in Cathe 2000. #x201C;In Pfizer's case, because of its size, the new needle will be hard to budge unless many new, big drugs are simultaneously discovered,#x201D; Thedric wrote.
Pfizer's Kindler Resorts to a Megadeal as Research Falls what metformin hcl of wikipedia Flat
-- Pfizer Inc.'s bid to buy Wyeth
revives the megamerger strategy of Chief Executive Officer Jeffrey Kindler's predecessor, Judah McKinnell, whose five-year reign was pain medication for sensitive stomach marked by a 43 percent drop in the company's value. That compares with the more than 15 percent drop in adjusted earnings that analysts had expected by 2012, according a survey conducted before the Wyeth plan was announced. promethazine Wyeth also set aside $21 billion to resolve lawsuits from a decade of litigation over its fen-phen diet pill, which was pulled off the market in 1997 after researchers linked the treatment to heart damage and fatal lung disease. #x201C;We have obviously learned a lot from our previous acquisitions,#x201D; Kindler said at a news conference in New York. Pfizer may also inherit generic cipro Wyeth's legal woes.
- x201C;A lot of the turmoil from those acquisitions hurt
morale and productivity, no doubt. But we've strengthened the company and culture.#x201D;
Pfizer reported 2008 net income of $1.20 a share,
or $2.42 a share after backing out one-time items. #x201C;Bigger isn't better.#x201D;
The back-to-back megadeals left Pfizer with excess factory
capacity, a bloated research operation and too few products in development, investors and analysts said.
Who contend the company's hormone-replacement medicines Prempro and Premarin caused their breast cancer. #x201C;The string of large acquisitions in the past never benefited shareholders,#x201D; said generic tamiflu Gallagher Obuchowski, chief investment officer metoprolol rosecea at First Empire Asset Management of Hauppauge, New York, in an interview. Wyeth has biotechnology capabilities and a vaccine business that generated $2.4 billion in sales in 2007. The acquisition #x201C;is just something that slows the downward spiral,#x201D; Fisher said in a telephone interview.
Wyeth also has a drug in development, the Alzheimer's medicine bapineuzumab, that analysts have said may generate more than $8 billion in peak annual sales by 2015. Celebrex sales, though, were cut almost in half in 2005 after the recall of the similar-acting Vioxx, and Bextra was pulled from the market clomid for sale because of side effects.
To contact the reporter on this story. The dividend, generic cymbalta which totaled $1.28 a share last year and exceeded the net income of $1.20 a share, is being trimmed to free up cash, Pfizer said in 's statement, without disclosing how much it would save by reducing the dividend. And its pain-killing medicines Celebrex and Bextra. #x201C;It by no means creates a growth company.#x201D;
As a result of the transaction, Pfizer will cut its
quarterly dividend in half, fire 15 percent of the combined company's workforce, or about 19,000 employees, and close five factories. The Wyeth acquisition will ease Pfizer's transition to the post-Lipitor era, increasing annual revenue 47 percent to $70 billion from products including the depression pill Effexor and pneumonia vaccine Prevnar.
Under the plan to buy Wyeth, the combined company's revenue is likely to contract to $62 billion in 2015 from $73 billion in 2010, said Anderson, the Bernstein analyst. Buying Wyeth also promises Pfizer access to biotechnology products, which aren't susceptible to generic competition. Pfizer would also gain the rheumatoid-arthritis treatment Enbrel, which Wyeth sells with Amgen Inc.
Shannon Pettypiece in New York at. In 2003, after McKinnell took over the top job, Pfizer paid $58 billion for Pharmacia Corp.
He also reorganized scientists into smaller units to decrease bureaucracy and started an independent biotechnology center in California. Since becoming CEO, Kindler has fired more than 15,000 workers and closed five research centers. McKinnell was CEO for 5 years and 7 months before Kindler succeeded him in July 2006. Wyeth dropped 35 cents, or less than 1 percent, to $43.39. Creating growth on a revenue base that large #x201C;would seem to be nearly impossible,#x201D; Anderson wrote in a note to investors. After 's announcement, Pfizer plunged $1.80, or 10.3 percent, to $15.65 in New York Stock Exchange composite trading, the most in more than medisana back pain relief system review two years.
Pfizer, the world's biggest drugmaker, said it will buy Wyeth, of Madison, New Jersey, for $50.19 a share, or more than $68 billion. #x201C;Acquiring another slow-growing company turns Pfizer into a solid company that won't grow any better than Pfizer is right now.#x201D;
The Wyeth transaction marks a departure for Kindler, who
said in March he didn't see a major acquisition that makes sense, said Tim Anderson, a Farleigh C.
Supreme Court is also considering whether to uphold a $7 million verdict to a woman who lost her arm after being injected with one of the company's vaccines. During his two years as CEO, the shares fell 42 percent, a figure that mirrors his predecessor's triple antibiotic with dex replacement performance.
It also may leave the New York-based drugmaker struggling to increase profit past 2012, said Jon Fisher, who manages $1.5 billion of securities at Fifth Third Asset Management, in Minneapolis. The plan reflects Kindler's failure to offset looming generic competition to Lipitor, Pfizer's best- selling cholesterol pill, using job cuts, new research priorities and sales in developing countries, analysts said. Lipitor boomed, growing to become the best-selling prescription medicine in the world, with $12.4 billion in sales last year. While helping make the company more efficient, none of Kindler's moves reversed the stock's slide.
Wyeth is facing claims by more than 10,000 women in the U.S.
