Pfizer (PFE) - Get Pfizer Inc. Report has dominated headlines this year with its failed Allergan (AGN) - Get Allergan plc Report merger and its Anacor Pharmaceuticals (ANAC) purchase. Nevertheless, Tom Forester, portfolio manager for the Forester Value Fund (FVALX) - Get Forester Value N Report , said there is more to the drug giant's stock higher than deal-making. 'Pfizer is not all about acquisitions, it has a great pipeline,' said Forester. 'And it has easier comps on the horizon because it has been over a year since a number of its previous blockbuster drugs came off patent.' Last week Pfizer, up 6.3 percent thus far in 2016, announced its plan to spend $5.2 billion on Anacor Pharmaceuticals to build up its inflammation and immunology business. The deal gives Pfizer access to Crisaborole, an anti-inflammatory drug currently under U.S. Food and Drug Administration review for the treatment of mild-to-moderate atopic dermatitis, or eczema. The Forester Value Fund is down 60 basis points thus far in 2016, according to Morningstar. The $98 million fund has returned an average of 2% annually over the past decade, putting it in the 91% percentile in Morningstar's long/short equity category.
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