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  "documentTitle": "Pfizer Inc. (PFE)",
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  "presentationDate": "2024-10-01 00:00:00",
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  "notes": "The chart highlights a 10-year median of 2.4x, with Pfizer's recent deals (3.3x and 5.1x) significantly exceeding this benchmark.",
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      "kind": "callout",
      "text": "Accounting for lower sales expectations highlights the lofty multiples paid by Pfizer.",
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      "text": "EV / Peak Sales: 5.1x",
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      "text": "Source: Wall Street research and public company presentation. (1) Revenue multiple based upon 2030 sales. (2) Entire Biopharma Industry >$1bn in TEV.",
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      "text": "Pfizer Appears to Have Significantly Overpaid Based Upon Wall Street's Lower Sales Expectations",
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