or pfizer being disbarred? >> i am damned levenson, the inspector general for the department. i would like to thank the secretary for her tremendous support and her leadership over these last few months as we have successfully concluded what is a more than four-year investigation done by many of our great government partners. i want to single out our boston regional office, our special license did on extraordinary job over the course of more than four years in bringing this case to a successful conclusion the corporate integrity agreement that is part of the settlement that goes forward five years, is an unprecedented cia in terms of its provisions and its reach. the secretary outlined some of the broad features of the cia. i want to underscore that for the first time and we have been doing these agreements at the department for a number of years, this is really reaching into new territory. pfizer will be under obligation to proactively identify potential risks associated with the promotion of individual produc

they did not just implicate pfizer. they identified in charge of the senior managers who were responsible for the fraud. some of the agents are here today. i would fight to acknowledge them along with the man who has been a tremendous leader of this office. aig leaders are here. come on. i know you are back there. i can see you. congratulations. the investigators also helped put this case together. americans have tremendous confidence in the medicines they take. that is a treated to the great work the fda does every day. -- a tribute to the great work the fda does every day. thanks to the attorneys from the fda, we now have a safer drug supply available to the american public. this event marks the conclusion of just one investigation. it is another step in the it ministrations ongoing campaign to prosecute any individual or organization who tries to rip off health care or consumers and the federal government. you have already heard general pirelli in may and a general holder and i were together to announce the antifraud

conduct by pfizer sales representative and pfizer must most information about payments and gifts todoctor. this is the first time ever that a drug company has degreed to look at the risks associated with marketing on its own and develop a plan to deep th those risks. and we are going to continue to closely monitor pfizer's performance. the steps relect the obama's administration dual focus on prosecuting and preventing health care fraud. we don't want to just catch crooks, we want to stop them before they strike. whether it is coming up with new ways to track medicare claims or prosecution that make companies think twice before bending the rules. to just give you one additional example, on monday, senator for medicare and medicaid services announced that for the first time they are creating a national database to track our efforts o crack down on medicare fraud. the database will help us identify what we can do better and where to find the best practices to improve our results. we know the stakes are extremely high. when companies refraud medicare and medicaid they are not just stea

they did not just implicate pfizer.hey identified in charge of the senior managers who were responsible for the fraud. some of the agents are here today. i would fight to acknowledge them along with the man who has been a tremendous leader of this office. aig leaders are here. come on. i know you are back there. i can see you. congratulations. the investigators also helped put this case together. americans have tremendous confidence in the medicines they take. that is a treated to the great work the fda does every day. -- a tribute to the great work the fda does every day. thanks to the attorneys from the fda, we now have a safer drug supply available to the american public. this event marks the conclusion of just one investigation. it is another step in the it ministrations ongoing campaign to prosecute any individual or organization who tries to rip off health care or consumers and the federal government. you have already heard general pirelli in may and a general holder and i were together to announce the antifraud i

it was $did 3 a share in cash. 5.98 a share of pfizer. let's look at pfizer. that stock has come back as we go through the deal terms for you. that stock. pfizer we will look at momentarily has come back quite nicely but not quite to the level it was. if you recall 2349 days following this deal. they got hit hard but have a look at pfizer. almost working its way all the way back. you see the lows so many of the stocks had in march. well see when it closes. when it does, an avalanche of cash is going to come out of this deal. where is it going to go? anybody want to buy xerox and acs? we'll have more on this. let's end there. of course after yesterday announce i announcing that deal to acquire it. xerox stock price got crushed. too wide to get a sense of where it will open, but we'll watch that closely. it needs majority vote of xerox shareholders t is subject to fntsing conditions to the tune that xerox cannot become less than an investment grade credit. remember 18.60 a share in cash but 4.93 xerox shares for each acs share. the value of that deal got crush e

they had struck a marketing arrangement with pfizer before pfizer acquired the pharmacy division. so in many respects and while pfizer's marketing machine was the one that took over and pushed this, in many respects pharmacy division was a logical division for choice. there is, of course, the exclusion issue that comes up, and i'm sure that's what you're addressing. we, in some respectse look at it this way, if we exclude an entity, the entity is done. it has to sell what assets it can to other companies. those assets include assets like the drugs and the employees who marketed them and sold them,nd there is no opportunity i that event for a continuing corporate integrity agreement. as you heard secretary sebelius say, this is a phenomenal agreement, and we think that the better chase here is to -- choice here is to have a plea that allows us to have a strong, effective corporate integrity agreement with the surviving entity. >> can you explain, i'm just curious, you talk about -- [laughter] you talk about, you identified senior managers. can you explain vhy there are no charges a

but j & j, pfizer, abbott, close to $100 billion in cash on their books. the honorable mention is kind of an eclectic group of stocks that have a lot of cash. they tend to be large caps, if they're going to make this list. but ge, exxon, walmart, time warner, and coca-cola, all with a substantial cash holding in either the tech or health care sectors. maria? >> matt, thanks so much. we'll see you later. >>> more help could be on the way for beleaguered state and hol housing agencies. will the multibillion dollar plan by the administration be a key trading point for the housing industry. >>> welcome back. the housing market may be on deck for another federal boost. the obama administration is close to committing $35 billion to help state and local housing agencies provide mortgages to low-income families. is this the right move? simply a case of tossing good money after bad? here to talk about it is fred glick of u.s. loans mortgage and u.s. spaces. good to have you on the program, mr. glick. >> thank you, maria. >> what do you think about the new proposal?

pfizer, my least favorite pharmaceutical.r, this is more about sector analysis than it is about quality. altera, not my favorite in the group. i prefer xilinx. pepsi, finest soft drink company. i own it for action owners plus.com. ups, one of my absolutely favorite transports. kind of waiver on its 52-week wsh dedon't want to see a breakdown there. and google, i'll still reiterating my $600 price. a tech company, pepsi, drugs, so soda, the music throwing me off and a transport. we want to throw out altera and pick up, let's say hey, how about ratheon. i like that one lately. then we would be in great shape. until next wednesday. stay with cramer. >>> don't miss a second of Ñáy now you can find each full episode of ÷ and down load it for free. take call of cramer's picks, pans, plus the lightning round with you on the go. get "mad money" on itune today. for more info go to cnbc.madmoney.com. fithe same tools the pros use, so you can be a disciplined trader. by selecting from eight advanced triggers, your order gets executed,

pfizer/merck -- i'm sorry pfizer wyeth and merck/schering-plough. will we see a lot more health care deals especially with the reform on the table? >> i don't think there will be a lot more. we already have now about eight or ten very large companies on a global basis, and i think we're going to see a more stable situation until new stresses develop in the industry. the biggest stress is that the industry iving difficulty replenishing the products that are going off patent with new products. new efforts are being made there to improve the product flow. if the industry succeeds in doing that, then i think the system will remain stable. if the industry does not succeed in doing that, we are going to see more -- >> you will see more:wh. what about this other issue. people talk to direct to consumer advertising for drugs. only two countries in the world where you can do that, ours and new zealand. everywhere else they have said that isn't right because it biases patients and makes drug companies spent more money on the viagras of the world than life-sav

listening to s >> pfizer, the world's largest drug maker, will be settled a civil suit related to drug promotions. the company indicated it would pay $2.3 billion over allegations that it had marketed a pain reliever and possibly other products for medical conditions other than the approved use. the terms of the deal are expected to be released later today. the body of a woman who killed herself and seven others was driving the wrong way on in new york highway will be exhumed. the family said that it will be exhumed for testing to counter findings that she was intact -- intoxicated at the time of the crash. authorities said they found a bottle of vodka in her minivan. the husband addressed the findings last night on cnn. >> my wife pack all the bags that day in a camper, leaving them by the door. i carried them from the camper to the truck. i had no idea if there was a bottle in there. >> the family said that she suffered from a medical condition that caused her to drive the wrong way. her brother, three nieces, and three men in an suv were all killed in the crash. restaurants, gift sh

we'll introduce you to vincent pfizer. it is a great story. >>> meantime, happy friday. good morning. i'm megan pringle. jamie is on the go. he'll join us later on in the show. he's in calvert county so we'll check in with him to find out what's going on. meantime, we've got weather and traffic all morning long. justin's here. good morning. >> reporter: good morning, megan. at 5:29 on the clock, we take to you owings mills where we have a quiet morning. after the rain we had to deal with yesterday morning, right now, it is just cloudy. a little bit of pa

pfizer, my least favorite pharmaceutical, but it is a pharmaceutical.vron, that's a big obviously integrated oil. here's the problem. el paso and chevron are too much like each other. i would rather take verizon or mcdonald's. it was an accidental high yield before it caught $1.50. a drug company, oil company, garbage company, and, remember, we're making that change. natural gas. that job will be done. >> hallelujah. >> mad money after the break. >>> ow forra? absolutely. let's take something off the table. why? because we've had a big run, and i don't want to give it back. i like to say there's always a bull market somewhere, and i promise to try to fiend it just for you right here on "mad money." i'm jim cramer. see you tomorrow.

and at's already underway-- big names like dell d pfizer have alrdy snapped up other firms. google says it's gng to. but stan selig of bank of americwarns not every sector is ready to ay "let's make a al." >> you won't see deals at e moment in those areawhich are most impted by consumer disctionary spending. so, retailnd leisure-- in those industries, you've see very little deal activy, and i think yoll continue to see less deal activity. in those indtries that are moreefensive-- health care, food a beverage related-- that's whe you're seeing deals, a that's where i think you're going to be able continue, or you will ntinue to see traaction activity. >> reporter: some vestors are also hoping rporate cash will come theiray in the form of dividends. but exrts say that is unlikely until threcovery is firmly established. >> once they start a divend, they're going toave to continue i over theast year, year and a half, s been okay to cut your dividend. yourtock would actually go up becausyou were facing the situion, doing what you have to do. en they start paying it, the better ke

as we speak, pfizer, the world's largest drug maker, has been fined a record $2.3 billion as a civil and criminal-- yes, that's criminal, as in fraud-- a criminal penalty for promoting prescription drugs with the subtlety of the russian mafia. it's the fourth time in a decade pfizer's been called on the carpet, and these are the people into whose tender mercies congress and the white house would deliver us? come on, mr. president. show us america is more than a circus or a market. remind us of our greatness as a democracy. when you speak to congress next week, just come out and say it. we thought we heard you say during the campaign last year that you want a government-run insurance plan alongside private insurance-- mostly premium- based, with subsidies for low- and-moderate income people. open to all individuals and employees who want to join and with everyone free to choose the doctors we want. we thought you said uncle sam would sign on as our tough, cost-minded negotiator standing up to the cartel of drug and insurance companies and wall street investors whose only interest is a

pfizer had been fined before. so had glaxosmithkline. so had warner lambert. all these drug companies. plus, we have insurance companies also that have i think been gouging medicare. all we're talking about is cutting out some of that. that's not going to hurt medicare one bit, but it is going to save us a lot of money. >> the public option was very important to members of your committee. you've got max bachus and other members of the finance committee meeting with the president today. are you willing to give up the public option? are you willing to trigger it or delay it or make it, you know, less of -- more of an option and less important in the final package in order to get a deal? >> first of all, the majority of americans want a public option. a recent poll after august, after all that stuff that happened in august at all these town meetings, 60% of americans still want a public option. >> but not a majority of the senate. you need a majority of the senate for that. >> well, how do we know that, andrea? we have not -- i heard someone say, well, we don't h

pfizer is in there also. >> would you add to any of those positions? anything out there you would buy? >> that's where we have our biggest holdings. that tells you, you know, where we're at. we have a very concentrated portfolio in the focused fund, the top ten holdings plus cash will be 75% of the assets. so what i'm telling you represents a very large part of the portfolio enchts how do you feel about microsoft? >> that's the point. a lot of the really good companies didn't participate in the rebound, partly because they didn't go down. that's why they show up as values relative -- i wouldn't say they're spectacular values, the markets is up dramatically over the six, eight months. >> i don't hear you talking about reflags, commodities, energy, industrials, but i don't hear the recovery story. are you a doubter? >> again, i don't spend a loot of time trying to call the economy, but i don't see the economy -- again, it's fun to talk about. i don't see it roaring ahead. all the things that the federal government is doing seem to be negating -- i mean,

. >> reporter: in chicago, hand san pfizers -- sanitizers fill the classroom. and hand washing twice a day is mandatory. america is trying to find a way to close the book on h1n1, or at least make it a short story. in new york, drew levinson, wjz eyewitness news. >> governor martin o'malley is representing maryland in washington as he meets with virginia governor tim kaine. the governor says the state's state's cuts in local aid. but the state will be taking advantage of money coming our way. >>> disturbing details about phil garrido's story come to light. kai is live in the newsroom with the extensive testimony he gave 30 years ago. >> he stood trial in 1977, where he admitted to fanticizing -- fantasizing about raping women and acting as a peeping tom. detectives say garrido kept a girl captive in his tent. in his 1977 trial, garrido testified that he used lsd and cocaine as sexual stimulants and watched young girls at school but said he didn't think he did anything wrong. he had a history of sexual disorders. >> he and his wife nancy are being held in califo

i mean, pfizer at 15 with the -- what's the yield on that thing?ou could almost just, you know -- >> make money? yeah. and pfizer at 6.4%. it's been at 16 for how many years and they make viagra. anyway, go ahead. >> there is no shortage of news this morning. darren rovell joins us this morning with breaking news in the world of swimming. daren. >> that's right, carl. the landscape of competitive swimming has changed within the past wum of months, but speedo, the market leader in competitive performance swim wear is not going to do it without michael phelps. they will announce later today they've signed phelps to endorse their brand through 2013. phelps has been with the brand since 2001 and has won 14 golds in their suit, including a speedo lazer. the innovative full body swimsu swimsuit will not be allowed to be used last year which basically brings suits back to the mid '90s standards. and stay tuned next hour on squawk, the insiders, michael phelps and warner's ceo will join us. in my ten years of covering the business in sports, this is the m

but cat, cisco and pfizer were all close behind in terms of the giveback today. goal miners like new mont in the materials space, down 6.3%. a few pockets of strength included ford, at&t and general mills, out with better than expected results. and then tomorrow it's research in motion's moment in the spotlight with their third quarter fquar quarter earnings. >> what did the fed mean, when did they mean it and why did the market sell off? is it helicopter ben ore king dollar ben? jim paulson of wells capital management, and cnbc reporters rick santelli and steve liesman. never has so much talent been assembled since thomas jefferson dined alone. jim, let me go to you first on this one. 170 will have point turnaround from up to down on the dow jones. in brief, mr. paulson what do you make of it? why did happen? >> well, larry, i think the fed left a statement today that i think sounds pretty good for the stock market. i think they bassically said they see the return of real growth without really inflation or interest rate pressure for the foreseeable future. i thi

in comparison, pfizer comes off in the next year and a half. abbott, they make a greet deal for them. the street loves it. they buy a company and the stock actually goes higher. my problem is it's been resistant a number of times. came off today. big volume today. but to me abbott with a nice dividends is still a stock you want to be involved in. >> i added to my position today. i love this deal. it will add 3 billion in revenue annually. it takes pressure off humera sales. they're getting exposure to russia and india. the pipeline extends furtherer out to 2016. i think abbott labs is a name you have to add in your portfolio. i see the stock going north of 50. >> look at the way it played out today. one week ago, we had big mergers again. last week, the markets reacted just the opposite. joe would have been here and was here probably pounding the table for the commodities, pulling the market down. the s&p and nasdaq and dow jones were to the down side. today that's reversed 180 degrees. some of that could be what steve's saying, end of the quar

george, we had $2.3 billion settlement with pfizer which will go back to the medicare trust fund for their illegal marketing of drugs. we have had sting operations in detroit and in houston. there are ways to get services by making sure we keep our commitment to seniors. >> senator landrieu, you have been concerned about the impact on the deficit. is the kind of the trigger that the president mentioned enough to calm down your fears? >> we're going to continue to talk about the trigger. those of against public option are against it because we think it will undermine the private sector. george, on medicare, i thought the president did a very good job on this. he needed to in this speech, because people who are in medicare, a large segment, save money in medicare and give it to everybody else. the president made it clear, we're going to do a better job of managing medicare for the benefit of the people in medicare. i think that's important. and use other ways to address -- >> and others said by taking medicare advantage program, will hurt those who are using it -- >> it's not taking aw

had a major pharmaceutical company join with us in introducing the price of a tuberculosis drug, pfizer. and they've never done it before. they cut it 60%. the only drug we know of that people who are hiv positive and have tuberculosis can take without just being paralyzingly sick. and i talked to the new president and he said, well, look, we were marketing all of our products to 15% of the world, and now we have to figure out how to reach 100%. so the interesting thing to me is, how many business people are now thinking, you know, this should be good business to actually help lift learning and lift health and lift income standards in countries that can either be our customers, or maybe in the future our employees. >> you and your wife, secretary clinton, have spent so much time trying to make a change in health care. do you think that a public plan will actually accomplish what you think needs to be accomplished? >> well, let me back up and say first, i think that the president was right to take up health care reform. i think it's not just about extending coverage to people who have co

here is a preview of what you'll hear from pfizer's ceo. >> you can't be in the medicines business and not be part of the generic drug industry. that is the plate that is going to provide access to the hundreds of millions of people in the globe who don't have access to medicine. we are significantly in that business and getting into it even more. >> "executive vision" with melissa francis. >>> gary did a great job talking about underperforming. exxonmobil. >> senate committee rejects public option. >> i like children's place. attractively priced. >> great performance from nike. >> i'm melissa lee. thank you for watching. see you back here tomorrow for more "fast money" on cnbc.

a little bit of strength in more defensive names like pfizer, at&t and verizon. maria? >> that's going to be something we'll be looking at for the -- >> thank you very much, bob. we're live at the globclinton gl initiative. richard adkerson, nice to have you on the program, richard. thank you so much for joining us. i guess my first question. i'm a wig bull on commodities. i love what's going on in terms of copper, iron ore, steel and oil, because it really gives you a window of where the demand is. but given that we have heard so many stories that the global economy is sort of muted at best, the recovery, where is the demand for these commodities coming from? where do you see it? >> for copper, it's driven by china. by infrastructure spending, by the growth of the internal market within china, it's been much stronger during 2009 than people expected going into the year. so china is really the chee to it. and unlike oil, consumption in china is 2 1/2 times that in the yids. >> and it hasn't slowed down? >>> well, there was a slowdown in the export business earlier in th

pfizer higher right now. scott, over to you. >> maria, thanks so much. back down here on the floor of the new york stock exchange, getting a little bit more on today's market activity with alan valdez, and gordan charloff at rosen blat securities. thanks for spending time with us. you showed me the tablet there. you've got a lot of sell orders coming in. >> yeah, i see we're better. it indicates to me that even though they've been remarkably resilient so far in the trading session, i don't think they're going to carry them through. >> today the market was down about 90 points or so, now only down about 25. >> every time you go down, they come in and buy these. we're off 25. they did buy on the dip. >> what's the most important thing you're watching this week? a very big week, with the fed meeting, you have the g-20. which is more important for the near term direction of this stock market? >> you know, a lot of positives you can point to. we're having some ipo activity this week, which is always a good sign. >> "a" activity also? >> "a" activity also. the

where it is applicable by the accords pfizer corporation, a criminal court but also the up the scopewas so broad that it allow the innocent people to be collected and that was perfectly legal and that is where i believe the abuse happened. >> with the chairman's indulgence, do you have a recommendation how that broad scope could be tightened? >> sure. to bring it back into the three patriot act 30 review use against a suspected agent of a foreign power or a member of a terrorist group rather than just against people two or three times removed from the subject. >> that would be by restoring the language? >> right to. >> i think you. i thank all of the witnesses. without objection you can submit to the chair additional written questions which will ford and asks the witness is two respond as promptly as they can all members may submit any other additional materials and again i think the witnesses and with that this hearing is adjourned. of defense. james cartwright the vice chairman of the joint chiefs of staff and patrick o'reilly the director of the missile defense agency. we're delig

where it is applicable by the accords pfizer corporation, a criminal court but also the up the scope was so broad that it allow the innocent people to be collected and that was perfectly legal and that is where i believe the abuse happened. >> with the chairman's indulgence, do you have a recommendation how that broad scope could be tightened? >> sure. to bring it back into the three patriot act 30 review use against a suspected agent of a foreign power or a member of a terrorist group rather than just against people two or three times removed from the subject. >> that would be by restoring the language? >> right to. >> i think you. i thank all of the witnesses. without objection you can submit to the chair additional written questions which will ford and asks the witness is two respond as promptly as they can all members may submit any other additional materials and again i think the witnesses and with that this hearing is adjourned. >> you are watching c-span, public affairs funding -- programming. remarks by president obama and iranian president ahmadinejad on that country's irani

i mentioned our relationship with pfizer on tuberculosis. not many of these people are going to die because they can't get medicine because it's too expensive. they're going to die now because there are no health care networks out there to find them, to test them, to deliver the medicine, to check on them, see if they're taking it. so this is an enormous opportunity for corporations, and for our country, i might add. i'll never forget, we announced this malaria program in tanzania on a sunday afternoon a couple years ago in an area that was 98% muslim. and keep in mind, tanzania is one of the places our embassy was blown up by al qaeda operate i was in 1998. so i know these people didn't agree with president bush's iraq policy. but in a village of 2,000, 12,000 people showed up for the announcement. and what those people knew about america was that -- and most of them didn't know me. i hadn't been in office for a while. they just knew the americans were coming and they wanted to live, they didn't want their children to die of malaria. this i

you look at a pfizer drug like lipitor, $80 billion every single year in income, it seems like it's worst the risk. >> blockbuster drugs are hard to find. and today's climate, you have a migration from generalized medicine to personalized medication. it's hard to find those blockbusters. but that somebody else's game. we'll let somebody else pay the billion dollars in ten years to make it to market. >> what investors do you have? or what ones do you wish you had? >> we have a portfolio of companies now. in the diagnostic areas, clrt have gone from $11 million to $100 million in revenue since 2005 and their market cap was up four x in that same period of time. >> let's go to our bulls and bears and keep you in. what about putting money in the start-ups like this gentleman is doing. >> you definitely need specialized expertise. he's got a great story and there are some great product prukts and great momentum. >> hey, peter, i think the payoff might be bigger in big pharma, especially because they've been beat up so badly. what do you say? >> i think it's quite possible big pharma is going t

pfizer, just to name a few. that's our situation here, maria. definitely a dramatic day. one that saw very calm and very quiet ahead of the decision, and then, of course, rallying only to give it all back and a whole lot more to finish down 80 points. back to you. >> matt, thanks very much. matt nesto on wall street today. the federal reserve kept the range of its benchmark interest rate unchanged. the real news is in what the ned had to say. economic reporter, steve liesman on the case at headquarters with the story. steve? >> maria, thanks. the fed leaving the interest rates unchanged but saying economic activity has picked up. this is one of its most optimistic assessments of the economy. actually in several years since we've been dealing with a very long recession. how much did the fed statement include. extending the end date to purchase $1.25 trillion of mortgages from the end of this year to the first quarter of 2010. leaving the amount unchanged. the same thing with treasuries. housing activity had increased, and that household spending has stabilized. two big cha

pfizer, drugs.ls in about a stock, if i don't like it, most of the time it's because i don't like this sector, 50% of a stock's movement is determined by the sector. and that's what i'm really saying. that's the important takeaway for you. and i get sectors wrong, too. i just look at where we are in the economy and i graph that on and pick the sector that works at the time. other times i'll like a stock usually because i like sector and i'll still tell somebody to swap into something else. some other stock i prefer in the sector. something that's closer to best of breed. it's almost like i'm a traffic cop trying to redirect people into the right course. to make the most of the show moneywise, you want to watch the lightning round sectors now because that's what it really is and i change views on sectors or else we would just run the same show, right? we'd run reruns of "mad money." reruns where i say i like ford, i hate ford, i like ford. that's what comes out. what sectors i like, which ones i don'

the health care reform, that's supported by pfizer and phrma.e are upset about, rather than the lies, i agree. >> tim, to that point, is there something that another conversation that should be had on the left, or in this center, excluding, as tim carney put it, the nut jobs, the people out there who are angry and who really want to be participants of the conversation? >> yeah, i think tim is right, that there is too much focus on the people who are on the fringe. and i think the really question is, why are republican leaders who are supposed to be in the mainstream, and trying to solve these problems, associating themselves with these groups? you saw senator de minn at this rally saying these people, flying confederate flags are great americans. >> what did he say -- confederate flags were great americans? no. >> frankly, when you look at the negotiations and the senate on the hill, when the president has repeatedly gone to republican leaders and tried to reach out, and i think his speech last week was a great example of that, he spent most of

our candidates have said things we kind of scratch our heads and some at pfizer's get into a speech andveryone else regrets and these things happen. an early indication -- [laughter] i won't give examples. an early indication to me will be if this rhetoric stops when they come into power. it's not particularly helpful. it helps explain the philosophy. you don't need it when it is a government. that would be one thing. i think right now my sense is the dj is testing to see what they can get away with from the promises they made about stopping the ships in afghanistan and indian ocean and this and that and an early good sign will be if they stopped asking which of the wish lists they could have and dialogue with administration about what they can do instead of saying we don't want to send ships to the indian ocean dialogue based on what can we do in afghanistan let's put the ships aside what can we do and hear our resources japan has. that kind of agenda with the obama administration. yes, we can. here's the kind things japan can do. it will be their decision and will be a man you but rig

if only i had listened to you about pfizer. steve, thank you so much.ks that i have been trashed as recommending annaly. i just kind of lost it and apologized for it. just said, lisp, i screwed up. mike ferrell did get through this period, and the yield is intact. sometimes i can't take the pain. i'm a pretty big seasoned pain taker, but that one just got to me. okay. here's one from dave. "jim, a big --" the music. wait. no. no. i'm employing to override. no, i'm not overriding. bye. >> narrator: now you can stay connected to cramer wherever you go. it's not the new lexus. it's not the new bmw. it's not the new audi. what it is... is impossible to resist. the new twenty-ten lacrosse from buick. it's the new class of world class. touch-up by nice 'n easy. your right color. >>> i do like the 3com. i always say there's always a bull market somewhere. i promise to try to find it just for you right here on "mad money." i'm jim cramer, and i will see you monday. coldwell. yes, banker? now all our listings are on any smartphone. indeed. now people can search

are you taking that on specifically yourself, trying to change the image of pfizer in that respect?and that's not going to change overnight. i realize that. we're a company and industry that has to earn trust with people overall. we're asking people to put our product in their bodies. we're asking them to trust us with their lives and their health. clearly, our industry has had serious reputational issues over the years. some of it deserved, some of it not deserved. it's something we have to continue to work on. we over the years at phases have tried to make major strides in that regard and change our practices and we're going to continue to do that. eeeeee >>> good morning. welcome back to "squawk box." i'm monica novotny over at msnbc with some of the other headlines making nuls outside the world of business. >>> u.s. officials are drafting plans for new sanctions that would take a big economic toll on iran unless the company comes clean about its controversial program. while the are under review, it would target iran's energy structure. >>> following the arrest and indictme

we've seen pfizer, america schering-plough. i know, do you expect consolidation wave to continue? >> yes. and i think that is a very good illustration of what i mean by strategic buyers taking advantage of a real strong market dynamic. with an overlying recession that brings us to the situation we're in today. so yes, i would expect to see continuing transactions there. but i think we're going to see a lot of change in the financial services area because of the position of, what, over 100 banks are effectively controlled by their governments. author organizations are going to change. but that is an illustration of what i mean by the circumstances we find ourselves in creating imperative for transactions and those transactions will happen as market circumstances improve. but that is kind of tidying up the problems we have rather than indicative of a new boom. >> simon, it's maura here in asia. do you think that most of these deals will originate from one or two regions and be interregional? i guess i'm trying to find out if the role of currency strength or weakness might have a rol

area os strength brian mentioned was bio technology and large cap pharmaceutical stocks, stocks like pfizer, for example, and schearing plough have reversed the longer term trends and are now getting good relative strength and out performing the market. >> art, you're even more optimistic than brian here. his target for the s&p is 11.20 over the next 12 months. you say 1200 -- what's the time line here? 1200 in what time line? >> well, you know, mark, with price targets, the market is going to shoot down as many price targets as it can. where that number came from was, if you take the current forward-looking earnings forecast for the s&p 500, about 64.59, times a multiple of 16 1/2 or 17, you get 1200. if you look at the price chart of the s&p 500, the next area now that we have an upward bias to the market of resistance is right around the 1180 to 1200 area. that's where the 1200 came from. i think it could be there by the end of the year because a lot of people are underinvested in this market. and we've been climbing the wall of worry all year long. >> you like to play this market with e

as for the blue chips, proctor & gamble, pfizer, and hewle hewlett-packard are fueling the dow jones.'ll have a "power lunch" exclusive. >> i'm michelle caruso-cabrera. and mary shapiro due to give a keynote speech, one day after her agency voted to propose banning flash trading. we're going to monitor her remarks and bring you the latest developments. >> meantime, give it up for our power player today. ron insana, cnbc contributor. let me finish. and portfolio manager with the street.com's market movers. how are you? >> you cannot resist laughing every time i'm on the program and i don't know why. >> you make us happy. >> we're at a point where economists pretty much agree that we are out of recession. the stock market seems to reflect that here, but at some point they'll have to start nudging the punch bowl away. i can't imagine you're going to say we're that close. >> there are a variety of reasons why not. number one, first and foremost on everybody's mind is the commercial real estate exposure large regional banks have. consumer credit card debt is still problematic. >> although

. >> and are you going to get more money from pfizer soon? >> they signed a deal for us for europe.conditions. 46 counties including europe and eurasian countries. they provided us with $75 million last year and will provide us additional milestones and royalty payments as the product gets commercialized. >> very interesting. thanks again. for more, check out the blog at cnbc.com and follow me on twitter. back to you. >> interesting. mark was also -- >> certainly learned something. any way. >>> up next -- chrysler gets back into leasing. gm doing the same. a sign the credit markets are -- we'll be right back. >> we'll be back. an eleven sixteenths wrench over here? here you go. eleven sixteenths... (announcer) from designing some of the world's cleanest and most fuel-efficient jet engines... to building more wind turbines than anyone in the country... the people of ge are working together... creating innovation today for america's tomorrow. thanks! no problem! when she started forgetting things, i was hoping it was nothing. grandma! what a nice surprise! mom, it's sunday. that's whe

. >>> pfizer, the world's largest drugmaker will pay $2 billion criminal and civil penalty. >>> anotherine for california firefighters. we're going to get the latest on that major fire that's burning just north of l.a. >>> they're exhausted but today firefighters in southern california are getting a break as they battle that wildfire just north of l.a. the fight is still far from over. reynolds wolf has been in the thick of things there, he joins us from lake view terrace. give us a view of what it's like. >> reporter: let's give you the good news, 20% of this fire is contained. a fire that's burned 140,000 acres. it's wonderful that they have it 22% contained. we're going to step over here and give you an idea. this is not the only game in town. they're dealing with a lot here. of course you've got the station fire, but take a look at the map of california. farther to the north, 49%, 100% containment. they want this scenario to finally play out in the fires we have in southern california, where you have the station fire, the morris fire, the pendleton fire and the old glen fire. for ou

pfizer buying wyeth, merck buying sheering plow. is this an attempt to make your company look more attractive to a potential acquirer. >> we have no interesting with mike, in a major large scale combination. that hasn't changed. we've been very consistent on that over the past several years. instead, the changes we're making will enable us to do what we think we do best. to discover and develop innovative new medicines. we want to advance our pipeline. we're making some changes in our lilly research lab and development area to help move us forward.d. by going to five or four pharmaceutical business units we hope to get better aligned with the needs of our customers and be more come pestive in areas like oncology and diabetes that we know are going to be important long-term businesses for us. >> finally, john, and quickly, your thoughts on the president's health care reform speech last week? is the $80 billion the big pharmas putting up going to be enough as well as the ad campaign you guys are doing in support of it? >> right now, o

setting pfizer rep consumers to drink bottled water also drink tap water. with the increase in diabetes and heart disease and united states, any actions that would discourage consumers from drinking water are not in the public interest. companies have always responded to the need for clean and safe drinking water after natural disasters such as hurricanes and floods. the bottled water industry cannot exist only for disaster response. the majority of companies in the united states are primarily family owned and operated small businesses that depend on a viable commercial market to provide the resources necessary to respond in emergency situations. 90% of our members have sales of less than $10 million a year. bottled water is a safe and healthy product that is comprehensively regulated at the federal and state level. we stand ready to assist the level. thank you for considering our issues. >> we will start with questions. thank you for your comments. is it true that 80% of the water bottlers are part of your organization? >> i would say we probably represent

medium cap, i like pfizer. large cap, i can think of emerson, johnson & johnson.ore on the conservative side. they won't get you to 15% but it gives you peace of mind. >> ali is taking notes. >> i absolutely am. that is fascinating. congratulations, ray. i have donna rosato to ask a question. >> so you hold on to the stocks for life. but you must have some rules for when you do sell. i wonder if there are any stocks that aappreciate yat thawed decided to sell vein a particular rule that you use to determine when you're ready to sell? >> for example, maybe stock took off and we got a couple right now in that situation. probably next month we'll probably shave off a little bit. probably 30 years ago a broker i knew, he was my broker, he said sometimes it's good to take half off the table, let the rest ride. now do we do that? all the time? no. sometimes you have to take all off the table. and go a different direction. >> ray bahr, it's good to have rules about when you sell stocks. thanks for sharing your experience and advice with our viewers and some of us i think

i guarantee i could have pfizer in here and you guys would be at each other's throats. >> and i think the key here really is let's not rewrite the patent law with an exclusivity period. the other thing that concerns me is there is a loophole around evergreening where if you end up taking a making a small change on the product, you'll end up getting another 12 years of exclusivity. >> you get an extended release version and you keep charging like 180% more than you would charge and then you use that on marketing to convince people they need the xl version, right? >> that's exactly what happens. >> a lot of things. i know this. >> joe, meanwhile, you know, we're the only u.s. company that has launched a generic buy logic in europe and we've brought costs down by 30%. but we can't do it here. >> which one was it? po. >> why can't you do it here? >> there's no legislation to allow us to do it. we need that legislation so wefk bring it to market. >> you said this is still out there. this is still out there with the current health care debate? this is something that could go either way? >>

issue than it has ever been before because, like i have said repeatedly, the use of these kind of as pfizer's in various capacities is not new. the magnet -- of these advisers in various capacities is not new. it is not as if it is a totally new phenomenon. . incredible amounts of money-- now, you're changing the healt >> you are changing the health care system. i get the sense, politically, that people are worn out. there has been so much change, people are fatigued. >> i think you are absolutely right. this is a very difficult economic in parliament, people are feeling anxious. we have to take a series of steps, in circumstances not of my choosing, and it is absolutely fair to say that people start feeling some sticker shock. there is an argument to be made out there that maybe health care can wait because we have had to abort a lot, the system has gone into shock, perhaps we should wait for another time. >> people ask you, do we need to do all of this, can mchale this back? >> the problem i have is the only way i can get medium and long terms better -- federal spending under control is if

our candidates have said things we kind of scratch our heads and some at pfizer's get into a speech andveryone else regrets and these things happen. an early indicion -- [laughter] i won't give examples. an early indication to me will be if this rhetoric stops when they come into power. it's not particularly helpfu it helps explain the philosophy. you don't need it when it is a government. that would be one thing. i think right now my sense is the dj is tting to see what they can get away with from the promises they made about stopping the ships in afghanistan and indian ocean and this and that and an early good sign will be if they stopped asking which of the wish lists they could havend dialogue with ainistration about what they cano instead of sayi we don't want to send ships to the indian ocean dialogue based on what can we do in afghanistan let's put the ships aside what can we do and hear ouresources japan has. that kind of agenda with the obama administration. yes, we can. here's the kind things japan can do. it will be their deision and will be a man you but right now my sense i