Pfizer Posts Weak First Quarter As It Continues To Mull Over A Split
This article was originally published in The Pink Sheet Daily
The Big Pharma disappoints investors with a weak first quarter and a failure to come to any decisions about the future structuring of the company. Meanwhile, the company made little progress of note during the quarter.
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The Big Pharma intends to loosen its leash on its former animal health business come June when Pfizer shareholders will be given an option to swap their shares for Zoetis stock. Meanwhile, Pfizer continues its strategy to shift its focus back to the core pharmaceutical business.
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Pfizer and Merck have more than a deal on a diabetes candidate in common as both companies saw foreign exchange and patent expiries hit the bottom line in the first quarter and see emerging markets as key growth drivers this year.