Pfizer CEO unconcerned about falling revenue

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Aug. 2 (Bloomberg) — Pfizer Inc. Chief Executive Officer Ian Read said he won’t seek large deals to replace falling revenue, as the world’s largest drugmaker loses patent exclusivity to drugs responsible for 60 percent of yearly sales.

“We are not going to chase revenue at the destruction of capital,” Read said today in a telephone interview. “We have geographic breadth, we have portfolio breadth, we have technology breadth. We never say never, but I don’t see why we would need that.”

Full Story: Pfizer CEO Not ‘Chasing Revenue’ in Big Deals as Patents Expire – Businessweek.

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Kells Hetherington