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Phil's focus on the fiscal management (cash conversion cycle)of PFE, SP & Warner Lambert fails to recognize the importance of product pipeline (R&D)and marketing prowess. I think those two items are more important to the long-term viability of a pharmecutical company. Cash turnover is more important in the start up phase of an organization. It's possible that Warner's management has to focus on finances because it's the best tool in their tool box. My concern here is that I've seen companies run tight ships right onto the rocks.
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