RespireRx Pharmaceuticals Inc (RSPI)

[neuroinv]

Pfizer tends to want things done 'the Pfizer way', but also tends to lose focus after an initial burst of enthusiasm, leaving projects to founder on their own without a lot of structural support. Wyeth has become more entrepeneurial, but can be a bit sloppy/careless in terms of thoroughly assessing a target and candidates. This could create a conflict--though now that I think of it, Pfizer could resolve that by amputating a lot of the Wyeth R&D operation.

I realize the deal makes sense from an accretion to EPS perspective. I have a problem with corporations whose strategy is based on hitting the cents per share target each quarter, when they could take a nearterm hit and have bigger rewards two years from now. It's that short timeframe perspective that pushes these companies towards incremental changes and me-too drugs.

NeuroInvestment