Despite having spent some $240bn on three big acquisitions since 2000, its market capitalisation is just $185bn today. Meanwhile the Dow Jones index is more than 40 per cent higher.
Goodness gracious.. Hank Kimmel deserves a clawback against his assets..
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).