Where Will Pfizer Be in 1 Year?
Those following the headlines about Pfizer (NYSE: PFE) last year may have thought 2020 was all about developing a vaccine for COVID-19. For society at large, it was. For the company, though, 2020 was about transformation. Management is hoping to reestablish Pfizer as a scientific trailblazer after shedding slow-growth businesses. By this time next year, we should know whether the move is paying off or whether competition will stunt the 172-year-old pharmaceutical giant's attempt to ignite growth.
Over the last decade, the company has been converting itself into what it calls a pure-play science and innovation-focused company. After the August 2019 deal with GlaxoSmithKline to create a joint venture of consumer health assets, and the November 2020 deal to combine its off-patent arm, Upjohn, with Mylan to form Viatris, management is finally able to devote all of its energy to the biopharmaceuticals business. The unit is surprisingly well-diversified, with no single segment comprising more than roughly a quarter of sales, as the recently reported full-year 2020 results demonstrate.
Data source: Pfizer. YOY = year over year.
Source Fool.com
