A focal point of the CC was that PFE is nearly done with large-scale M&A and will now return more free cash flow to shareholders through dividends and buybacks.
Several analysts on the CC asked about SGEN clinical data, which PFE could not comment on (because the merger has not closed).
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
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