There have been some big positives already.

With all the price competition [in generics], we're likely to see more consolidation.

It has been very difficult for Pfizer to develop drugs. It has suffered disappointment after disappointment.

You have to wonder how significant the problems are if they're withdrawing their guidance for 2006 and 2007.

Basically, Viagra last year helped inflate expectations for the pharmaceutical group and it's made it more difficult for the drug companies this year to live up to expectations.

Somebody had to pay the price for the HBOC acquisition.

There were people who tried Viagra and the next morning called their brokers, ... Now, reality is setting in.

All this consolidation could rekindle talks between everybody.

Potentially, you're looking at a company that has very little revenue growth for the next few years because of patent expirations.