Pfizer's CEO Says His Company Has a "Very Big Balance Sheet" to Do Deals. Here's the Perfect Next Acquisition Target for the Pharma Giant
Could this be the secret to Pfizer's rebound strategy?
Overview
Pfizer's (NYSE: PFE) shares have significantly underperformed broader equities over the past three years. The company's reliance on its coronavirus portfolio has been a weakness, as vaccination rates have declined, while U.S. regulators have made it harder for patients to access COVID-19 vaccines, even when they want to. Pfizer has tried to move beyond this problem. The company has expanded its pipeline through acquisitions.
However, there could be even more buyout deals on the horizon for the drugmaker. Pfizer's CEO, Albert Bourla, recently boasted about the company's "very big balance sheet" and ability to pursue potentially transformative acquisitions, if need be, even after spending quite a lot on buyout deals over the past few years. If Pfizer decides to buy another company, several candidates would be particularly attractive, including Kailera Therapeutics (NASDAQ: KLRA). Here's why.
Image source: The Motley Fool.
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Originally published at www.fool.com.