Pfizer Gropes for Answers

Right after Pfizer (PFE Quote) ended the development of what was its most important experimental drug, Chief Executive Jeffrey Kindler said he would accelerate his plans for transforming the company.

On Wall Street, inquiring minds weren't quite sure what that would mean. Will Pfizer fire more people? Will it buy more products, or maybe acquire more companies?

Kindler has promised that he will reveal details of his vision in January. Based on his recent announcement that 20% of the 11,000-member U.S. sales force will be fired by year-end, it's apparent that more payroll reductions and cost-cutting are probably going to be part of Pfizer's strategy. ...