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Pfizer's point-of-view

Executive Summary

"You realize of course that wholesalers play games with us here, wanting to take more inventory in advance of price increases and then kind of hiding that from us for the next few months," Pfizer President Henry McKinnell, PhD, explained to investors. "We think that at this point, five or six months after our price increase, that sort of nonsense has smoothed out...Inventory should be in balance." The timing of the trade stocking patterns allowed Pfizer to post an unusually strong quarter for the January-March period while closing out the hostile takeover of Warner-Lambert

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