October 30, 2018 / 2:39 PM / 14 days ago

Pfizer CEO designate does not see need for large acquisitions

FILE PHOTO: A man walks past Pfizer's world headquarters in New York April 28, 2014. REUTERS/Andrew Kelly/File Photo

(Reuters) - Pfizer Inc (PFE.N) does not see a need for any large acquisitions, the drugmaker’s CEO designate Albert Bourla said, following the drugmaker’s third-quarter earnings report on Tuesday.

Bourla’s remarks came during a conference call with analysts after Pfizer cut its yearly revenue forecast, blaming supply snags and a strengthening dollar.

“We continue not to see the need for any large-scale M&A activity at this time,” Bourla, currently Pfizer’s chief operating officer, said.

Bourla succeeds Pfizer’s longtime Chief Executive Officer Ian Read in January.

Reporting by Aakash Jagadeesh Babu in Bengaluru; Editing by Sai Sachin Ravikumar

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