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Biotech / Medical : GUMM - Eliminate the Common Cold
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To: Mike M who wrote (4161)7/16/2002 6:49:01 PM
From: Hank   of 5582
 
I too was blind sided by this deal. Nobody expected Pfizer to make another move like this for at least another year, especially in the middle of a major bear market.

However, you have to remember that McKinnell was the one that made the Warner-Lambert deal work, so if anybody can make this work he can. They keep saying that part of their motivation was to get Pharmacia's cancer franchise and frankly that one confuses me. Pharmacia's main cancer drug is a cytotox drug and Pfizer's current program has intentionally steered away from developing such drugs due to their severe side effects. I don't understand that logic at all. It seems to me the main driver was to gain control over Celebrex and Bextra. After all, control over lipitor was what drove the Warner-Lamber deal.

I guess we'll just have to wait and see what happens. It seems you're screwed in this market no matter which basket you keep your eggs in.
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