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Thursday, September 21, 2006

Can Pfizer Be The No.1 Biotech? (PFE)(DNA)(AMGN)

Pfizer’s CEO was talking big.

He says that the company’s future growth will come from, among other things, becoming the top biotech company in the world. By his reckoning, Pfizer is now in eighth place.

Maybe someone should tell the guys over at Amgen and Genentech.

Pfizer’s revenue was a little over $51 billion last year. It was roughly flat with the 2004. Genetech’s revenue was $6.6 billion in 2005. In 2004, its revenue was $4.6 billion. The company recently made Fortune Magazine’s 100 Fastest Growing Company list.

Amgen’s revenue in 2005 was $12.4 billion. The year before, the top line was $10.6 billion. The year before, $8.4 billion.

Pfizer has just replaced its CEO, who had a tough time at the helm, with the company’s former general counsel. It may be too early to begin bragging.

Douglas A. McIntyre can be reached at He does not own securities in companies that he writes about.

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