Pfizer (PFE) CEO Jeff Kindler has hinted that the world’s biggest drugmaker is open to a large-scale acquisition. “The real goal is to grow revenues," he told the Financial Times recently. "We are open to opportunities and constantly looking at those which are big, small and in between.”

This quote has been the recent rage for biotech investors of late, who are speculating that Pfizer, with its AAA credit rating and more than $25 billion in cash, is planning to make a large-scale acquisition soon.

Here is a list of some of the companies that Pfizer might be considering. Remember, Pfizer is looking to totally revamp its pipeline with this acquisition.

Amgen (AMGN): market cap of $61.7 billion, current price of $58.20.

Celgene (CELG): market cap of $23.6 billion, current price of $51.50.

Schering-Plough (SGP): market cap of $28.8 billion, current price of $17.72.

Genzyme (GENZ): market cap of $17.7 billion, current price of $65.41.

Biogen Idec (BIIB): market cap of $13.7 billion, current price of $46.81.

Forest Laboratories (FRX): market cap of $7.5 billion, current price of $25.01.

Elan (ELN): market cap of $3.6 billion, current price of $7.59.

OSI Pharmaceuticals (OSIP): market cap of $2.2 billion, current price of $38.37.

Onyx Pharmaceuticals (ONXX): market cap of $2 billion, current price of $35.47.

BioMarin Pharmaceutical (BMRN): market cap of $1.9 billion, current price of $18.64.

NPS Pharmaceuticals (NPSP): market cap of $294.2 million, current price of $6.21.

The key here is that all of these companies have deep pipelines for potentially groundbreaking drugs. The more-established large-cap companies such as Amgen and Celgene will offer the deepest pipeline, but Pfizer will have to pay up a substantial premium to acquire such a company.

Another idea for Pfizer is to make hundreds of lottery-ticket bets in the capital-starved microcap land by acquiring a company such as Orthologic (CAPS) and Panacos (PANC) on the idea that only a few drugs will work out.

Pfizer needs to make a series of acquisitions to fight off looming patents that lose protection in 2012. It is likely to make a series of mid-billion-dollar acquisitions and a few lottery-ticket bets throughout 2009.

Recently, JPMorgan’s biotech team said: “We continue to see a favorable M&A backdrop as the clock ticks away on patent expiries in pharma and where 2009 could see increased shareholder activism.”

If you don’t have time to follow the biotech sector like a hawk, than treat yourself in 2009 to a subscription to Adam Feuerstein’s Biotech Select.

Posted on Jan. 7, 2009