Pfizer notes from conference call: Co remains open to any deal that will add value, regardless of size
- Co still faces loss of exclusivity for certain products this year, however, largest losses of exclusivity have passed; expects impact to diminish over time
- Co has 88 programs in clinical development and 30 programs in late stage development for registration
- As noted in press release, FY15 guidance was lowered solely due to the effect of changes foreign exchange rates, particularly in the Euro
- M&A: Management has a bias towards deals that create value in the near term
- Co remains on track for closing Hospira deal in the second half of this year
- Co is "agnostic" to the size of potential deals, as long as they create value for shareholders
- Co has capability of undertaking another deal, does not need to wait for Hospira deal to close
- CEO said he believes that valuations in biotech are "a bit buoyant"
- New proposed tax law changes would make it more difficult to realize any immediate value from conducting a tax inversion
- CFO said co's capital structure will not have any impact on the decision whether or not to split up the company; a large acquisition could impact the timeline of a potential split
- Co implemented a new distribution model for Enbrel in the UK, has not seen any impact from biosimilars to REMICADE