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Jami Rubin of Goldman Sachs asks about Venezuela revenues. $PFE CFO Frank D'Amelio replies by saying that Venezuela revenue initially projected for 2016 was $800MM, almost the same as 2015. The change in exchange rate from 6.3 to 200 bolÃvar to the dollar conversion is what caused the adjustment for 2016 and feels the timing was appropriate.
$WBA is yet to receive US anti-trust clearance for its Rite Aid acquisition. The deadline for the deal expires on January 27.
$BMY plunge 7.2%. No credits to the non-acceleration of approval for lung cancer combination treatment.