Si existiera esa alta probabilidad aquí iba a estar el fulano ese escribiendo en un foro 
No, en serio, redordad el disclaimer. El tal Ciguatanejo ese tiene serias taras mentales que pueden afectar seriamente al criterio de sus decisiones y que por lo tanto le pueden llegar a incapacitar para emitir opinión o consideración alguna, sobre todo en lo que a temas de inversión se refiere.
Un saludo.
Qué hay unos 10-15 billón para compras (BD) no? Así quedarían 8b.
Trung Huynh- UBS Equities - Analyst
[…]
And then on BD, you’ve mentioned external opportunities. How much is the macro environment impacting your decision in the timing of BD given the volatility and unknowns
And then on the other side of the table, do you think sellers are hesitating given valuations are meaningfully lower than the start of the year?
Albert Bourla - Pfizer Inc - Chairman of the Board, Chief Executive Officer
Dave, why don’t you take the guidance and then Andrew, you can speak to BD a little bit. And I will also comment
David Denton - Pfizer Inc - Executive Vice President, Chief Financial Officer
On the cost side, keep in mind that we’re focused on taking $4.5 billion out by the end of this year, well on track with that. The additional $1.2 billion that we’ve identified, probably modest delivery of that in 2025, most of that in '26 and '27, but maybe a little bit.
I think from an R&D perspective, the $500 million that we’re saving in improving productivity and R&D, largely that will happen this year to be reinvested in R&D late this year or maybe even bleed into next year to some degree.
Albert Bourla - Pfizer Inc - Chairman of the Board, Chief Executive Officer
Thank you. And on BD, Andrew, valuations are low, uncertain though is high, so how you see things?
Andrew Baum - Pfizer Inc - Chief Strategy and Innovation Officer, Executive Vice President
Yeah. I mean I think as you might imagine, we’re very awake to the external environment, but we’re comfortable with the $10 billion to $15 billion budget that Dave effectively forecast or gave at the beginning of this year.
In terms of the question of have sellers Adjusted to the new valuation the market is applying, I think it depends. I think generally, it takes some time in some categories where there is increasing therapeutic density because there’s an ever-expanding array of assets mainly coming from China.
I think there’s an additional force, which is causing companies to become more amenable to lower valuations. But I think it really depends.
Albert Bourla - Pfizer Inc - Chairman of the Board, Chief Executive Officer
And Trung, what I tell my team constantly is never let a good crisis go to waste. And with crisis, there are risks, but also there are tremendous opportunities because things are changing, the status quo change. So you need to be strategic. You need to be smart. You need to be disciplined.
But you need as Warren Buffet said, sell when prices are high and buy when prices are low. And prices are low.
Para esto el deep research si que mola mucho.
PFE just announced this: "NEW YORK–(BUSINESS WIRE)–
Pfizer Inc. (NYSE: PFE) today announced it has entered into an exclusive
global, ex-China, licensing agreement with 3SBio, Inc. (01530.HK), a
leading Chinese biopharmaceutical company, for the development,
manufacturing and commercialization of SSGJ-707, a bispecific antibody
targeting PD-1 and VEGF, currently undergoing several clinical trials in
China for non-small cell lung cancer, metastatic colorectal cancer, and
gynecological tumors. SSGJ-707 has shown initial efficacy and safety
data in a promising class of cancer medicines. 3SBio plans to initiate
the first Phase 3 study in China in 2025.
Under the terms of the
agreement, 3SBio and its subsidiaries Shenyang Sunshine Pharmaceutical
Co., Ltd. and 3S Guojian Pharmaceutical (Shanghai) Co., Ltd. will grant
Pfizer an exclusive global license to develop, manufacture and
commercialize SSGJ-707 worldwide, excluding China. The agreement also
provides Pfizer the option of commercialization rights in China. 3SBio
will receive an upfront payment of $1.25 billion and is eligible to
receive milestone payments associated with certain development,
regulatory and commercial milestones up to $4.8 billion as well as
tiered double-digit royalties on sales of SSGJ-707, if approved.
The
transaction is expected to close in the third quarter subject to
fulfillment of customary closing conditions, including receipt of
required regulatory approvals and 3SBio shareholder approval. Upon
close, Pfizer will make a $100 million equity investment in 3SBio
subject to an agreed upon securities subscription agreement between the
parties. Pfizer plans to manufacture drug substance for SSGJ-707 in
Sanford, North Carolina, and drug product in McPherson, Kansas." find out about the company and find out about the product that PFE is buying. What could be the TAM, price and margins? Explain and compare with existing therapies. Pro and cons. How can it penetrate the market? why? Make an investment analysis.