For three years, Pfizer Inc. Chief Executive Officer Ian Read has been firing people, trimming research initiatives and shedding businesses in a less-is-more strategy designed to cut back the excesses from a decade of megamergers. No more.
The largest proposed acquisition in drug-industry history may spark further deals as AstraZeneca Plc tries to sort out alternatives to Pfizer Inc.’s unsolicited 58.8-billion-pound ($98.7 billion) takeover approach.
Bayer AG’s possible sale of its $10 billion plastics unit would accelerate a retreat from chemicals that the maker of Aspirin initiated a decade ago, leaving it focused on the more lucrative life-science industry.
Pfizer Inc.’s experimental breast cancer drug stopped progression of an incurable form of the disease for more than two years in a study, a dramatic delay for those with the second-deadliest cancer in women.