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.

"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.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.