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Max Nisen

Pfizer's Deal Potential Doesn't Stop at Bristol-Myers

From Eli Lilly to Celgene, there are several other options it could consider.
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Photographer: Simon Dawson/Bloomberg

Biopharma investors have enjoyed a recent streak of small-to-medium sized M&A, but they really hunger for something bigger. Pfizer Inc. is considered the most likely candidate to deliver it. 

The Viagra maker is by far the most megadeal-prone company in the pharmaceutical industry, as evidenced by its pursuit of drug giants AstraZeneca PLC in 2014 and Allergan PLC in 2015. While Pfizer wasn't able to seal either deal, those attempts give an indication of the scope of its potential ambitions.