A Goliath Grows: Pfizer Buys Wyeth For $68 Billion
This article was originally published in The Pink Sheet Daily
Merger propels Pfizer ahead in biotechnology and paves the way for the drug giant to navigate the loss of Lipitor in 2011.
You may also be interested in...
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%.
A Moody’s report lists seven pharmas among the 50 non-financial companies sitting on the largest piles of cash. These very big war chests hold the preferred currency, particularly for ex-U.S.pharma deal-making.
With Super Bowl mania rampant, what are the chances of the biopharmaceutical industry’s equivalent: a mega-merger within big pharma? A Wall Street analyst downplays the likelihood of another Pfizer/Wyeth-like pairing, but raises the possibility that industry will see a mid-sized deal intended to mimic the success of the Sanofi/Genzyme merger.