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DewDiligence

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DewDiligence

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Re: biocqr post# 177868

Monday, 05/12/2014 9:34:43 PM

Monday, May 12, 2014 9:34:43 PM

Post# of 257259
Re: PFE factoid

Despite having spent some $240bn on three big acquisitions since 2000, its market capitalisation is just $185bn today.

That comparison is somewhat misleading insofar as a substantial portion of the payment for the WL, Pharmacia, and Wyeth deals was in stock rather than cash.

Moreover, one should take into account PFE’s $40B+ of divestitures, including animal health (ZTS), infant formula (Nestlé), and OTC products (JNJ).

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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