US Pharmaceutical giant Pfizer will steer clear of mega-mergers for the foreseeable future, the company’s chief executive Ian Read told delegates at the JP Morgan Global Healthcare Conference in San Francisco, California, US.
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"I’m very disinclined to be looking at the possibility of another mega-acquisition," he said. "We’re only going to do bolt-on acquisitions or licensing deals that make sense financially. You never say never, but we have all the science we need and we have the geographic breadth."
Pfizer has been creating "a smaller, more flexible cost base", according to Read, and its chief scientific officers are now "operating with increased cost transparency and accountability for a greater proportion of the total spend".
Read also explained that five of Pfizer’s drugs will drive the most growth in the near term, including the pneumococcal vaccine Prevnar 13, lung cancer drug Xalkori (crizotinib), axitinib for advanced kidney cancer, tofacitinib for rheumatoid arthritis and the anti-clotting drug Eliquis (apixaban), produced with partner Bristol-Myers Squibb.
Caption: Pfizer will not merge with any big companies in the near future.
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