Deals
Pfizer Seeks Deals as Generic Versions Hurts Older Drugs’ Sales
- 2017 sales will be $52 billion to $54 billion, company says
- Drugmaker continuing to explore deals, even before tax reform
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Pfizer Inc. expects more generic competition for its established drugs in 2017, and the company’s deal-making to gain products may continue to thrive.
After posting fourth-quarter earnings and a forecast that were short of analysts’ estimates, New York-based Pfizer said it would continue to pursue deals, regardless of their size, as long as they create shareholder value. Changes in the U.S. tax code may be coming that would make deals cheaper, but the company won’t wait for them to deploy its cash, executives said.