PFE (Pfizer) How high will it go? Message Board

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Biotech / Medical : PFE (Pfizer) How high will it go?

PFE 25.33

+1.0%

10:10 AM EST

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To: WS_DE who wrote (4625)	7/28/1998 10:22:00 PM
From: BigKNY3	Read Replies (2) of 9523

WS: Thanks for the link. In return here is an important trend in Big Pharma that has been reported in two separate broker reports: Pharmaceutical companies are divesting "small" and non-strategic products to "specialty" pharmaceutical companies . Have PFun! BigKNY3 Salomen Smith Barney (7/1/98) "As the large pharmaceutical firms continue to grow through mergers and consolidation of blockbuster new products, the attractiveness of products with small and modest sales potential diminishes. This leads Big Pharma to divest non-strategic product lines and to abandon R&D efforts associated with smaller sales potential products." "We believe the trend towards increased size among pharmaceutical giants and the shedding of small-to medium sized products represents the most important underlying positive influence on the emerging specialty pharmaceutical segment." DLJ- June 23, 1998 "The sheer size of (Big Pharma) companies has fostered a change in marketing and research strategies which now emphasize a focus on developing and selling primarily large "blockbuster" or dominant franchise product lines." "Drugs that do not have an economic potential of at least $250M are often not considered for advanced development and are increasingly considered non-strategic." " These initiatives have contributed to the divestment of "non-core" product lines, providing an ample supply of small to medium drug lines for acquisition by the specialty pharmaceutical companies." "The increased scale and sheer size of the combined revenues of two merged companies, raises the minimal structural sales "hurdle" rate for existing pharmaceutical product lines, a trend encouraging the disposal of smaller non-strategic product lines."

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