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The problems with PFE that Grape points out are real issues that PFE should address. I know PFE has great mkting prowess but that is unrelated to their ability to control their inventory and manage their payables. PFE is a rule maker now. But, and I repeat BUT, they can be much better from a fiscal standpoint than they are. If their management ever took on the CCC that Grape writes about and reduced it to near the level of Warner, can you imagine the affect on their stock.
I work for a pharmaceutical co and know that these are some of the most wasteful companies on earth. They don't manage their money wisely. I think because their margins are so high and competition with exclusive drugs is low IMO. Lack of competition tends to produce watsefullness, look at our government. The point is that the industry in general and PFE specifically, can benfit from some good cash management. I, for one, would like to see more Rx companies begin to pay more attention to their cash management.
Great analysis Grape

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