Not surprisingly, Pfizer’s ceo equivocates when asked whether the drugmaker is willing to go after another big pharma to bolster its flagging pipeline.

“I don’t believe size, for the sake of size, is something to aspire to,” Kindler told the Wall Street crowd this afternoon. “Regarding a mega-transaction, we’re not ruling anything out. However, I think we’ve been very clear we’re only interested in strategic transactions for the good of our shareholders.”

Well, now, that can mean all sorts of things, can’t it? Already, one analyst has speculated Wyeth or Amgen could be nifty targets. In short, anything is possible.

But give Kindler some credit, compared with Hank McKinnell, who increasingly came off as imperious, he appeared almost contrite in acknowledging Pfizer’s problems and the hard choices being made to restore some growth.

The drugmaker did a good job telegraphing today’s news for the past week - some big numbers began appearing in analyst reports and news accounts several days ago. That made it easier for investors to adjust. Now, though, Kindler has to ensure Pfizer doesn’t become an also-ran, which would ruin his legacy as the 51-year-old looks toward his own future a few years out.

[tags]Bristol-Myers Squibb, Jeff Kindler, Pfizer, Wyeth[/tags]