Next question, Marc Goodman, UBS.
Marc Goodman - UBS
Two questions. First of all, in trying to understand how the legacy Pfizer sales are going to be impacted early this year, can you help us understand where are inventory levels and where do you anticipate them going? Just maybe help quantify that a little bit for the impact for first and second quarter.
And then you talk about modest business development in the revenues for 2012. So should we assume that there is $2 billion, $3 billion, $4 billion in there or much smaller? Thanks.
Frank A. D’Amelio
So in terms of the inventory levels, the weeks on hand this quarter and which is what I am assuming you are asking me, with distributors was 2.8 weeks on hand. And in the year ago quarter it was 2.5, 2.6. And in terms of dollar amounts a slight increase, so no material change.
And on going forward basis, I''m not expecting any material change in the rhythm of the business. So that is how I would answer that.
In terms of business development and the impact on revenues, modest. You can take away what you think modest is. It is clearly not anything that would have a large material effect on the numbers that we provided for 2012 targets. So modest, think about as not a material number.
Jeffrey B. Kindler
Thank you. Next question, please.
Operator
Tony Butler, Barclays Capital.
Anthony Butler - Barclays Capital
Good morning and thanks very much. Frank, back to David Reisinger''s question on tax rate, if I may? At what point in time is it most important to you to actually have a permanent tax reduction in the tax rate vis-a-vis not needing to pull money from abroad and therefore perhaps having paid down the existing debt versus some alternative use of that cash?
Then secondly, Ian, with respect to investment this year in, what inning are you with respect to the China Infrastructure, ninth-inning, eighth-inning and can you make the same comment with India? Thank you.
Frank A. D’Amelio
So, Tony, on the tax rate what I would say is this. I gave a target for 2012. We said approximately 30%. Please understand that with that 30% approximation as the target, I believe we still have financial flexibility to do the things we need to do to deploy capital in a way that maximizes total long-term shareholder return. So I don''t view that tax rate as some big handcuff that doesn''t allow us to have the financial flexibility that we need to have. So that is how I would answer the question.
Ian C. Read
So in India I would say we are really at the very beginning of our investments in India. And it is a market that is difficult to develop but we are focused on it and vis-a-vis China, regarding innings I would say we''re in the middle of the innings. China is a huge opportunity. We''ve got a reasonably large field force. But we will continue to aggressively grow that field force to maximize the opportunities and tailor it to the developments of the marketplace.
Jeffrey B. Kindler
|
