It appears that Pfizer Inc. is looking to beef up through buyouts, fueling speculation that the pharmaceutical giant could set off a new round of consolidation in the industry with a large megamerger.
The drugmaker's CEO Jeff Kindler recently told the Financial Times that he isn't ruling acquisitions of any size, as long as they provide "strategic value." He went on to say that "the real goal is to grow revenues. ... We are open to opportunities and constantly looking at those which are big, small and in between."
The pharmaceutical industry hasn't seen too many big deals since the credit crisis hit, as most players are choosing to conserve cash and wait things out. There was a flurry of small deals in December however, as Pfizer laid out $75 million for the European rights to a drug that corrects Peyronie's Disease.
But what's really getting the attention of Kindler's peers is the possibility that he'll target a large rival and pull off a game-changing merger. One of those names being bandied about is Amgen Inc., the large U.S.-based biotechnology company, which Amgen shareholders have
previously urged Pfizer to scoop up. -
George White
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