A Split Won’t “Make Or Break” Pfizer, CEO Read Says
The big pharma’s chief executive assured investors there is no expiration date on optionality, suggesting the company could always reconsider splitting up the business even if decides against such action this year.
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The pharma giant's decision not to break up into two separate publicly traded companies as it has been contemplating for several years reflects an improved growth outlook and the inability to unlock trapped value. Now Pfizer can finally get on with business.
Continuation of Phase III MONARCH 2 study, with no early termination for efficacy, may mean a delay in filing and a tougher competitive outlook against Pfizer's Ibrance and Novartis' ribociclib.
Pfizer has decided not to move forward with an oral PCSK9 blocker in early clinical development because the efficacy wouldn’t stand up to injectable rivals.