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Summary Box: Pfizer CEO trying new growth strategy

AP News
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Posted: Jan 10, 2012 4:31 PM
Summary Box: Pfizer CEO trying new growth strategy

GROWTH STRATEGY: Pfizer's CEO is looking to increase revenue and profit with small purchases, licensing deals and research partnerships, not another "mega-acquisition" like the ones that brought fast growth over the last decade.

GROWTH DRIVERS: Ian Read says Pfizer has five key drugs that will drive near-term growth, from a blockbuster vaccine just approved for adults to drugs for rheumatoid arthritis and kidney cancer now awaiting approval.

RE-SIZED RESEARCH: Pfizer has cut its budget by about $1 billion by eliminating its least-promising research projects.