Pfizer rivals may be concerned about competition from generics, but the pharmaceutical firm is prepared to deal with the expiration of its patents on several major drugs over the next three years, CEO Henry McKinnell said. Other companies were hurt by expiring patents because they "failed to anticipate or lacked the means to respond," he said. McKinnell indicated Pfizer currently has as many as 20 drugs to submit for approval by the end of 2006.

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