In other words, another buy-time sleight of hand in order to kick the can down road. It used to work but investors now have more data, better insights and superior options. PFE leadership is clueless
The stock price
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This group of chuckleheads are complete nonsense. If they think Covid products are going to meet expectations, they are delusional. The population has moved on and are unlikely to line up en mass for multiple boosters.
IF they have a plan that will yield results in the next 6-18 months (damn BIG IF), they should already be communicating and implementing. This is exactly why investors keep PFE out of the portfolio except for some dividend play. I can’t believe this is their response after blowing the Covid windfall.
Who in the world, outside the very rare mask wearers, would still get Covid boosters? Hardly anyone has gotten them in the last 18 months, and nearly everyone is fine. Pfizer should be thrilled the US taxpayers paid a hundred billion dollars for these shots that are now proving to be almost worthless
stock done anything since 1999 anyone who complains about it is delusional about what the company is about. There are endless layers of VP and General managers that do nothing except collect a paycheck it’s always been this way. The only thing PFE is good for is the dividend.
"Prepared to launch a cost-cutting program if Covid revenues...are less that what we assumed"
same ol', same ol' strategy of "cut, cut, cut...net, net, net""We look forward to sharing specific details of this program" =
we really aren't very sure of our next steps, just buying more timeIn a way the company has become alot like the New York Mets and New York Yankees...a very large payroll, with high expectations...but down near the end of the standings in their division. Unload the high priced talent (Verlander, Scherzer) and buy time til next year. Rinse...wash...repeat
Maybe someone should write a book about this...
Oh but wait our pipeline!… it’s a joke that been going on for DECADES.
Pick up your iPhone. Open the business news app. Enter PFE. Select 1 day and see a red line chart. Select 1 week, see a red line chart. Select 1 month, 3 months, 6 months, YTD, 1 year, 2 years, 5 years and see a RED line chart for each. You have to go out to 10 years to find anything green.
Now consider that just over three years ago, no one heard of SARS co-v 2. No one had billions of vaccine and treatment sales in our forecast. Yet our leadership has failed to translate this into an investor win. We have sown no need confidence with investors or the general public. We have only managed to pay exorbitant amounts to execs and come up with the same cost cut / buy assets “strategy” that we8ve followed for decades. Insane.
Now consider that just over three years ago, no one heard of SARS co-v 2. No one had billions of vaccine and treatment sales in our forecast. Yet our leadership has failed to translate this into an investor win. We have sown no need confidence with investors or the general public. We have only managed to pay exorbitant amounts to execs and come up with the same cost cut / buy assets “strategy” that we8ve followed for decades. Insane.
Your incessant whining about her book and our corny internal DEI PR campaign borders on OCD. Grow a set, willya? Or get medicated.
Best post Ive read on CP for a long time. Since I came over in the late 90s I've been shocked and appalled by many at the level of RM and above. My assessment must not be unique, because after our many big cuts in head count I dont see too many of our former "leaders" ending up at high levels in Big Pharma. Some end up at Regeneron, UCB, Lundbeck, Sunovion and Esai, and over at Syneos (thanks to CEO Michelle!).
But Denton noted that Pfizer is prepared to launch a cost-cutting program if Covid product revenues for the full year are “less than what we assumed.” He added that Pfizer would design the strategy to support its goal of growing its operating profit margin, and expects the effort to “begin to yield results in 2024.”
What a dimwitted thing for a Chief Financial Officer to say. He appears to say if revenues are less than we assume, we have the ability to design a workable strategy that brings results with 18 months. What prevents them from designing and implementing this magical strategy NOW?! We need to wait for some inevitable negative signal to implement our brilliant plan? Asinine.
I agree with the prior poster. The line charts show the lack of performance over time and the need for this brilliant strategy is NOW
What a dimwitted thing for a Chief Financial Officer to say. He appears to say if revenues are less than we assume, we have the ability to design a workable strategy that brings results with 18 months. What prevents them from designing and implementing this magical strategy NOW?! We need to wait for some inevitable negative signal to implement our brilliant plan? Asinine.
I agree with the prior poster. The line charts show the lack of performance over time and the need for this brilliant strategy is NOW
Unfortunately, we have no one in the home office with any strategic acumen. Unless you call buying companies with solid products "strategic". I am grateful to have another source of income while I bide my time to make it my full time job. Every single year I am amazed at the launching of yet another frivolous so-called initiative. It's only a matter of time before we implement ATS Version 6.2. And as usual, only the cronies and sycophants of higher-ups will remain in power.
This has been by far, the worst organization I’ve ever worked for in over 20 years. The lack of actual resources selling Nurtec and then launching Zav has been a total joke. Tiny Biohaven was 100x more organized and efficient than big Pfizer. Never would I have thought that a company with the reputation of Pfizer would be so inept. It’s like nobody talks to anyone else in positions at the top and they all work out of their own silos with no visibility to other areas of the business. They handcuff the customer-facing people that actually make the company money.
Pfizer is a joke. As an investment, the stock price continues to slide. As an employer, there is a total lack of loyalty. With the current upper management team, Pfizer’s ultimate end will be to sell off in parts. Sad for a legacy American corporation. No sense of direction. Too focused on the wrong initiatives.
The fact that you thought they had a great reputation is a testament to what they excel at: marketing. R&D, innovation, therapeutic area acumen etc. are not areas in which they excel.
Correct. We once had great products thanks to large investment in R&D AND bright minds in that department. Once we got bloated with eat Reach & Frequency and Share of Voice nonsense, I was told (with great pride) by my 1st DM that R&D was only looking for mega blockbusters because we had to support a massive company.
I remember thinking that that was odd, because out of my Cluster only 2 of us worked. The others would leech off of our lunches and dinner programs. We were far too fat, even during our so-called glory days.
Bulldoze this place, then burn the rubble. The world would be a much better place.
I have thought that PFE’s plan was to sell off pieces except for oncology and vaccines. Spin off of Zoetis was successful, the generic spin off is much less so. OTC, who knows?
unfortunately, they are messing up the vaccine opportunities. They did not control the narrative or public understanding of mRNA technology. It will make future mRNA vaccine products a much heavier lift. Merck is prepared to compete well with a pcv21 in phase 3. Plus they have ability to bundle and no weight of legacy pricing to limit how they choose to compete on price. Unsurprisingly, our in house vaccine candidates have failed to progress, have fallen behind competitors or have so-so results. None of these scenarios spell a great vaccine foundation.
Oncology is the focus, to the extent we can focus on business topics. Buy stuff and Hope something hits. There’s got to be another Lipitor or Prevnar out there somewhere, right? All that said, agree our leadership lacks vision, business focus or ability to sell a compelling story for investors. They do have a laser focus on self enrichment though.
Having an approved therapy isn’t enough in oncology. There needs to be an infrastructure that supports sales, marketing, thought leader engagement, life cycle management, ongoing research etc. These roles need to be filled with those that have oncology experience and relationships, not by people who get a great job based on knowing the right higher ups. There is a chance to do this with Seagen people. Hopefully it happens.
I find it hard to believe that you are a Pfizer employee. That post was brilliant.
Opened the week under $35. WSJ says Pfizer Covid boost is over. What is leadership doing with the billions pocketed during the pandemic boom days?