Bigger And Smaller? Pfizer Pursues AstraZeneca But Hasn’t Given Up On A Split
A Pfizer break up is still an option even if the company completes a mega-merger with AstraZeneca, CEO Ian Read said May 5. The company’s first quarter sales and earnings results highlighted how important completing a transaction could be for the company, with sales down 9% and earnings down 15%.
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The naturalized US citizen's M&A method means mixing money and medicines in a tax-efficient manner. Interactive timeline tracks major acquisitions and divestitures during Read's tenure.
Deal Watch: AstraZeneca/Almirall And Pfizer/Baxter Vaccines Deal Change Math On Future Pfizer/AstraZeneca Bid
Meda acquires family-owned Italian firm Rottapharm for $3.1 billion, expanding its European and emerging markets business. Boehringer Ingelheim and Zealand sign their second collaboration, this time around peptide candidates for cardio-metabolic disease.
Pfizer, which saw 13% growth in its global vaccines business during the second quarter, pays $635 million to buy a pair of vaccines from Baxter. The meningitis and encephalitis vaccines, sold mainly in Europe, are expected to generate combined sales of about $300 million this year.