Wyeth 'no miracle drug' for Pfizer

Pfizer's $68bn takeover of Wyeth will give it a short-term boost, but won't solve Pfizer's biggest problem - lack of revenue.

"Pfizer knows a thing or two" about treating ailments, said Rob Cox on Breakingviews. And its $68bn takeover of Wyeth (NYSE:WYE), making it the world's number-one drug-maker by sales, "looks like decent therapy". Pfizer (NYSE:PFE) gets a short-term fix, adding consumer products, biotech and vaccines to its pipeline. It should give earnings an immediate boost and there are $3bn of costs to be taken out, said Alex Brummer in the Daily Mail. Pfizer is expected to fire 15% of the combined workforce around 19,000 employees and close five factories.

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