- Greece Still to Convince Skeptical Euro Zone
- A Secretive Hedge Fund Legend Prepares to Surface
- Greece's Debt Drama Is Downside Risk to $100 Oil
- Greece Needs to Be the Sacrificial Lamb: Pro
- The World's Best Beers
- We 'Screwed Up' on A380 Wing Cracks: Airbus CEO
- Mortgage Problems? Turn Your House Into a Billboard
- Positive Signs for US, Japan Economies: OECD
- Venezuela's Capriles Seeks to Beat Chavez in Vote
MOST SHARED
- S&P’s Moritz Kraemer Is Euro Zone’s ‘Mr. Scissorhands’
- Positive Signs for US, Japan Economies: OECD
- Italy One-Year Debt Costs Fall at Auction
- Global Markets Update: European Stocks Follow Asia Higher at the Open
- US Stocks Seen Higher on Greece Vote
- Obama's Election-Year Budget to Target Rich
- Mortgage Problems? Turn Your House Into a Billboard
- New York Fashion Week Fall 2012
- Option Bulls Bet on Riverbed’s Rising Tide
- European Shares Rise After Greek Vote
MOST POPULAR
HOT ON FACEBOOK
Wyeth Acquisition Will Boost Pfizer in Long Term: CEO
Text Size 
Pfizer's acquisition of Wyeth will add to the pharmaceutical giant's diversity, which over time will help boost the company's stock, CEO Jeff Kindler told CNBC Tuesday.
"Ultimately, the way we increase the stock is by improving shareholder value in the long run," Kindler said. "Our prospects are very strong."
Pfizer [PFE
Loading...
()
] plans to cut about $4 billion in annual expenses after the acquisition is complete, and it will eliminate 15 percent of the companies' combined employees, he said.
Kindler added that management will discuss the future of the company's dividend in December, after cutting it in half to 64 cents earlier this year.
"We'll consider the importance of the dividend to our shareholders, which we understand very much," he said, "as well as all considerations about the best use of our capital for our shareholders."
On Tuesday, Pfizer reported third-quarter earnings that beat Wall Street's profit expectations as cost-cutting outweighed a decline in sales.
Also on CNBC.com:
- With the Michigan primary coming up, Mitt Romney will have to explain to voters why he strongly opposed the auto industry bailout.
- The roles of CEOs are changing, says a top exec at Infosys— and here’s what must be done.
- Along with being the star of TV’s “NCIS,” Pauley Perrette found time to launch a southern bakery in Manhattan.
- What if aging was something that could be prevented? That’s what some biotech start-ups and investors are after.
- There’s a feeling among rockers like Mick Fleetwood and Neil Young that MP3 compression is ruining music.
- A month after the buzz about the baby name Blue Ivy, parents Jay-Z and Beyonce are applying to get the moniker trademarked.
Data is a real-time snapshot *Data is delayed at least 15 minutes
