hermanbrut

Pfizer: Low Expectations Make Great Investments

I've been thinking about PFE lately, too. There isn't much downside here. People seem apprehensive because their patents are running out.
But with $11 billion net cash ($28 billion cash—$17 billion debt), why can't Pfizer just buy several companies that have new blockbuster drugs in the pipeline? They have a couple years to do this before their own drugs go off-patent. I think they are waiting and watching right now.
What's wrong with my thinking?