(Don't worry, I'm done rhyming.)
The ticker will be gone -- oh, WYE, WYE, WYE? Not even a hyphenated name will remain. What would founders John and Frank Wyeth think?
Of course, it hadn't been Wyeth for very long -- only since 2002. Before that it was American Home Products. A catchy name, for sure. But not the company Wyeth had become.
Turning into a Johnson & Johnson (NYSE: JNJ ) , Abbott Labs (NYSE: ABT ) , or Bayer wasn't in the cards. It shunned its agriculture division, household products and candy -- yes, candy! -- years earlier. Wyeth had become a pharmaceutical specialist. Perhaps that was its downfall?
Or maybe it was Fen-phen. Merck's (NYSE: MRK ) Vioxx was its only saving grace -- from having Fen-phen mentioned every time safety issues arose.
Whatever the reason, Pfizer liked what it saw: a nice vaccine in Prevnar and a biologic with Enbrel. Those should be much harder to copy than Lipitor, that's for sure.
Ironically, it was a smaller acquisition of American Cyanamid that jump-started vaccines. Enbrel came through an Immunex partnership, before Amgen (Nasdaq: AMGN ) snatched it up. Wonder what Pfizer could have gotten. Several smaller purchases instead of the $68 billion one?
No matter, it's done.
On to cost-saving-synergy lists that can't fail.
It's the pipeline I'm worried about;
R&D doesn't scale.
(Sorry, couldn't help myself.)
What are your expectations of the new Pfizer? Would you buy shares today (or tomorrow)? Let us know in the comments below.