joining me now caroline chen who covers this area for bloomberg news.hat does this mean for r&d and innovation? >> yes. so brent saunders who is c.e.o. of allergen set to become the c.o.o. at the newly created major megapfizer has been known for a model where he doesn't believe pharma should do drug discovery. he thinks that biotechs, small drug companies start-ups should be doing the innovation whereas pfizer should be focusing on marketing, getting the drugs out maybe through the pipeline, getting it approved by the fda and out on the market. he says big pharma should cut back on the early stage r&d. emily: is this a loss for health care? >> new drugs aren't going to be created? the major question really is, is there enough innovation going on outside of big pharma? some people would argue that makes sense. big pharma should do the marketing and the late stage stuff and small biotech should do the early stages where scientists aren't hindered by committees upon committees but there has to be people who will buy the drugs coming out of biotech. that's