Pfizer Can Add 5%-10% Value By Streamlining Its R&D Spending

. Phase 3 drugs have strong probability of getting through to approval, and the deal with Merck focuses on a very promising area of immuno-oncology. Pfizer needs to boost its pipeline considering the large number of its drugs are facing strong competition. The next year will be different as the company intends to reduce its R&D spending. We expect the figure to be around $7.2 billion (19% of gross profits) as compared to $8.4 billion in 2014. This implies that there may not be any big deals such...