rwwine,
If we look at Pfizer's history we'll see that they operate more as an financial house under the disguise of a Pharma.
In 2000 Pfizer was sporting a marketcap of around $250 Bil. It then acquired Warner-Lambert for $111.8 Bil, Pharmacia/Upjohn for $60 Bil, Wyeth for $68 Bil, King Pharma for $3.6 Bil and Hospira for $17 Bil.
Today, 17 years later Pfizer carries an $203 Bil Marketcap. Go Figure.
They did spin off Zoetis which is valued in the $25 Bil Range.