Pfizer prepares red carpet for market analysts

After a lengthy quiet period, Pfizer is hosting a big gathering of analysts on Thursday to deliver the message that its R&D spending is paying off. Pfizer has been budgeting $7 billion a year to back new research programs, but analysts have found little to cheer about. Pfizer's last big hit was Celebrex, which was approved in 1999. And the analysts are likely to prove skeptical in their meetings with the new CEO, Jeffrey Kindler. The analysts will be looking for data on the company's brightest drug hopes, which includes torcetrapib.

- here's the report on Pfizer from The Wall Street Journal (sub. req.)

ALSO: An FDA advisory committee will meet on Wednesday to evaluate Pfizer's controversial request to expand the use of Celebrex for children with arthritis. Report

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