Pfizer: Live, From Hong Kong, It's The Investor Web Cast!
If the writers' strike has you looking for alternatives to insomnia-fighting late-night TV shows, then Pfizer may have just what the doctor ordered. Tune into the company's web cast for investors and analysts at 11 p.m. Eastern Daylight Savings Time on Thursday, November 29th.
If you don't believe me check out the press release on the Pfizer web site. The world's biggest drug company is taking its show on the road to Hong Kong.
About this time last year Pfizer held a Drug Research and Development Day for the same crowd at its Groton, CT facility. That's doable for most of Wall Street as it's just a quick train-ride away. Keep in mind, though, that we (reporters) were kept on a very tight leash there. But Hong Kong? During the same time period Merck, Eli Lilly (which is based in Indianapolis) and Bristol-Myers Squibb are all holding analyst meetings in or around New York City. They usually attract at least a couple hundred analysts, investors and reporters and many more listen into the web casts.
A Pfizer spokesman tells me in an email that this is the first time Pfizer is doing an investor presentation in Hong Kong. Chairman and CEO Jeff Kindler is not making the trip. Instead, the new head of R & D, Dr. Martin Mackay, will be the headliner. The spokesman says the road show is part of the company's "larger investor outreach program" and that it's also being held in response to requests from Asia-based analysts.
The meeting is taking place at noon Hong Kong time on Friday which puts the start time at 11 p.m. ET Thursday. I'm told there won't be any new developmental drug data in the presentation, so I don't think I'd be successful at convincing my managers to spring for a Hong Kong trip. If I'm not busy on that Friday I might catch the replay of the web cast.
On a down day for the markets, Pfizer's stock hit another new low today. I don't mean this to sound xenophobic, but is it Asian or American investors/analysts Pfizer should be meeting with?
Questions? Comments? Pharma@cnbc.com