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Iraq War Rally Helps Rx Stocks; Investors Adjust To Diminished Expectations?

Executive Summary

Pfizer's steady progress toward closing the Pharmacia acquisition is giving the company a winning profile on Wall Street against the backdrop of a broader market rally fueled by the U.S. war in Iraq

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Cardinal’s SEC request

Wholesaler receives an SEC request for "historical financial and related information," including information on the accounting treatment of a $22 mil. settlement in vitamin price-fixing litigation. Cardinal describes the request as part of an "informal inquiry" and says it is "highly confident in its accounting and financial disclosure practices, and intends to cooperate fully." Questions about the timing of Cardinal's recognition of the settlement funds were raised in April by the Wall Street Journal (1"The Pink Sheet" April 14, 2003, p. 28)...

Cardinal’s SEC request

Wholesaler receives an SEC request for "historical financial and related information," including information on the accounting treatment of a $22 mil. settlement in vitamin price-fixing litigation. Cardinal describes the request as part of an "informal inquiry" and says it is "highly confident in its accounting and financial disclosure practices, and intends to cooperate fully." Questions about the timing of Cardinal's recognition of the settlement funds were raised in April by the Wall Street Journal (1"The Pink Sheet" April 14, 2003, p. 28)...

Pfizer Sizes Up Rx Industry; Will Wall Street See Bulk As Strategic Asset?

Pfizer is heading past the $50 bil. revenue level in 2004, but its biggest challenge may be convincing investors that its staggering size offers a competitive advantage

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