Boehringer CEO: Pfizer Is “A Failure”
2 CommentsBy Ed Silverman // March 27th, 2007 // 11:53 am
Beating up on Pfizer is becoming a sport - and not just for patients and polticians.
Alessandro Banchi, the ceo of Boehringer Ingelheim, the German drugmaker that’s controlled by the Boehringer family, says the Pfizer model of growing through mergers and acquisitions is “a failure” and that, one day, behemoths such as Pfizer and Glaxo could unravel and be split into smaller companies.
Piling on was Marbod Muff, Boehringer’s finance chief, who crows that: “Pffizer bought first products, operations and they bought companies, and now Pfizer over the past couple of years has been growing negatively, and now they are laying off staff.”
Being independent has its virtues, he adds. “We don’t buy sales,” he sniffs, “We buy R&D.”
What a novel idea.
Read more at Reuters.[tags]Boehringer Ingelheim, Pfizer[/tags]
Lew
Easy for BI to comment since its management doesn’t have to meet quarterly earnings forecasts.
ed
That’s true. Being independent has its advantages. And hindsight is wonderful, too isn’t it?