Pfizer-AZ acquisition
April 30, 2014
Britain’s AstraZeneca (AZ)
may be about to join a long line
of companies that the US pharma
giant Pfizer has bought over the last
15 years.
Reuters reported that Pfizer
Inc, the largest pharmaceutical
manufacturer and marketer in the
world, had again approached AZ in
an attempt to takeover the British
company only to have its US$100b
offer fail, but in speculation of
increased offers to come, both
Pfizer and AZ shares were up on the
NYSE this week.
If a subsequent bid meets
approval of the AZ board and
shareholders, the company would
join Warner-Lambert, Pharmacia,
Searle, Wyeth and other companies
to be bought out by Pfizer.
Pfizer ceo Ian Read told Reuters
there were no firm commitments.
“We see the UK as an
attractive place to do science
and manufacturing. Jobs and
investment tend to follow
incentives.
“You need to look at this
restructuring in the context of an
industry responding to society’s
request for increases in efficiency
and productivity.”
Both companies have pipeline
products in the oncology and
immunology therapeutic areas.
An acquisition would follow
another shake up in industry
structure, the three part deal
between GlaxoSmithKline (GSK)
and Novartis (PD 23 Apr), which
saw GSK purchase Novartis’ global
vaccines business for US$5.25b and
divesting its oncology portfolio to
Novartis for $US16b.
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