Who Will Pfizer Buy With $34B in Cash?
Make a commentBy Ed Silverman // January 17th, 2007 // 4:46 pm
How about Wyeth?
That’s what Barbara Ryan casually tosses out in her latest report about Pfizer and its need to do something to right itself as the Lipitor patent expirations closes in. This Monday, Pfizer ceo Jeff Kindler tells Wall Street about his big plans, which are expected to include another $2 billion in cost cutting that will mean the loss of another few thousand jobs or so.
Don’t expect a merger to be announced, but in an investor note she issued this morning, the Deutsche Bank Securities analyst writes that Pfizer will have $34 billion in cash by 2008, thanks to the recent sale of its over-the-counter business. What will Pfizer buy?
“Finding the answer is a bit like shooting fish in a barrel, the list is seemingly endless, whether Pfizer pursues a ‘transformational’ type of acquisition such as acquiring Amgen, or it acquires another pharma manufacturrer such as Wyeth, or several smaller companies, it is clear to us that Pfizer will acquire currently commercial organizations, which should add to revenues.” [tags]Pfizer, Wyeth[/tags]