Very funny post from NI on his website. I can personally attest to the hyperactive behavior of Pfizer sales reps; freaking cultists on speed if you ask me; the most hyperkinetic of a jittery lot. They'll grab you when your about to enter a patient room! Enjoy:
"An Open Letter To Pfizer's Jeffrey Kindler (From NI January 2007)
Pfizer has gone through a series of unfortunate events which has likely made Jeffrey Kindler's ascent to the CEO position feel more like a descent to the ninth circle of Hell. With about $14 billion in annual revenues about to vaporize due to patent expirations, Pfizer has watched torcetrapib, asenapine, and indiplon turn from potentially replacing all of that loss, or more, to write-offs on its balance sheet.
Pfizer is the only major pharmaceutical company that has never subscribed (so far as we know, some companies do so behind a middleman screen) to NI, so they are likely not waiting breathlessly for our input, nor are they likely to see it. Given the critical situation, NI will relax its copyright vigilance in this instance: Business Development teams from other Big Pharma companies who are earnestly concerned about the welfare of their bellwether peer should feel free to snip out this sidebar and send it along to Mr. Kindler:
Dear Jeff::
I want to humbly offer seven suggestions for Pfizer's future:
1) Amputating 20% of the sales force was a good thing, given that Pfizer reps had the reputation of swarming like fire ants on any available MD, taking up far too much time with their siliconed redundancies. Another 10-20% might be sliced without harm.
2) Cancel the share buyback. It is a timid, small-minded approach to 'enhancing' value. Don't play to the Street in 2007
3) Do NOT acquire another Big Pharma. Economies of scale become an illusion, and one slips even farther away from the creativity and nimbleness whose lack is already the bane of major pharmaceutical companies.
4) Buy Sepracor. All those well-laid plans for selling indiplon? Much of those can be transferred to Lunesta. This could easily become a billion-dollar drug.
5) Buy an interesting platform, understanding that you have to play for 2012, not just 2008. The top choice out there? AMPA modulators. Buy Cortex and Organon, and have your people call Lilly's people. You'd still have enough cash left to acquire Neuromed, you'll have to share the N-type calcium channel drugs with Merck, but you'll have the T-types to yourself. There are others, call us for a list of companies you could acquire with the interest you are earning on your cash on hand
6) Not out of the box enough? Acquire Rubio's, the Southern California fish taco chain whose earnings are stagnating. NI would like to see what 8000 Pfizer reps could do with an authentic Baja fish taco in their bags. Not only would it add an exciting new fast food option, but it would guarantee further sales growth for Lipitor
Regards, Your friends at NI"
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