Pfizer (NYSE:PFE) Worth Far More Even Without Drug Pipeline Says Einhorn

Hedge fund manager David Einhorn said concerning Pfizer Inc. (NYSE:PFE) that even if you didn't include the value of the drug pipeline of the company, they are worth far more than their share price indicates.

Much attention has riveted on the company after Jeffrey Kindler resigned as CEO recently. The shares of the company had lost close to 27 percent since Kindler was named CEO in July 2006.

Einhorn things replacing Kindler with Ian Read, who has 32 years of experience at Pfizer, could help turn things around, especially the various experimental medicines in the pipeline.

When pressed for a valuation that matches his vision of the company worth, Einhorn said when queried on whether a share price in the low twenties was a fair value, he replied that it was well above that as well.

The hedge fund run by Einhorn has a $387 million stake in Pfizer stock.

Pfizer closed Tuesday at $16.77, down $0.04, or 0.24 percent.