25 result(s) displayed (1 - 25 of 35):
On Wednesday, Pfizer Inc. (NYSE:PFE) received approval from the FTC for its $68 billion acquisition of Wyeth. Friday is Day One for the combined companies. The mood at the two giant organizations no doubt varies by function and location. But a juxtaposition of two facts in a Bloomberg report suggests...
Posted on October 16, 2009 10:50 AM
He's not Frank Sinatra, but a lot more people these days are calling neuroscientist and entrepreneur Corey Goodman "chairman of the board."Goodman (pictured), who joined Pfizer Inc. (NYSE:PFE) in 2007 to help build a network of biotech research centers and left soon after the Wyeth acquistion was announced, was...
Posted on July 17, 2009 3:40 PM
In the long winding road from "secret merger talks" to deal completion, bankers, lawyers and corporate dealmakers alike breathe easier when their hard work is met with regulatory and shareholder approvals along the way. Collecting fees is also a source of comfort. Sure, they get money from retainer and reimbursement...
Posted on July 17, 2009 3:01 PM
In a broader effort to focus on its human pharmaceutical business and raise cash (as well as investor confidence), Indian generic drug maker Wockhardt Ltd. is selling its animal health division to France's Vétoquinol. The deal marks Vétoquinol's entrance into India. Earlier this month, Wockhardt sold its German business Esparma...
Posted on June 29, 2009 3:29 PM
After watching his rivals consolidate and generic competition squeeze the company's earnings, GlaxoSmithKline plc (NYSE:GSK) chief executive Andrew Witty started allying to expand in emerging markets and shift money from pharmaceuticals into vaccines and consumer businesses.The latest deal is a revenue-sharing agreement with India's Dr. Reddy's Laboratories Ltd. (NYSE:RDY),...
Posted on June 16, 2009 12:52 PM
It's official. New Jersey Republicans on Tuesday chose former U.S. Attorney Chris Christie as their gubernatorial candidate. He'll oppose Gov. Jon Corzine next fall.Which inspires us to resurface a quirky detail Christie revealed in financial disclosure statements and The Star-Ledger reported on last month. In 2004, he earned more than...
Posted on June 3, 2009 1:20 PM
Combining traditional pharma R&D with the biotech version -- high risk, high reward, highly creative and often fueled with some good jolts of venture capital -- seems to be the preferred solution to the productivity problems that ail the Big Pharma companies. But how do you go about it?The industry...
Posted on June 3, 2009 12:50 PM
Pfizer Inc.'s (NYSE:PFE) $68 billion acquisition of Wyeth (NYSE:WYE) and Merck & Co.'s (NYSE:MRK) $41 billion bid for Schering Plough Corp. (NYSE:SGP) sparked fresh speculation on whether pharma megamergers create value and whether industry consolidation would continue. We've done our share of analysis. Recently, Baz Hiralal posted this solid roundup...
Posted on June 2, 2009 2:46 PM
As Novartis AG (NYSE:NVS) finally uses some of the $5 billion it raised to acquire the generic injectables business of Austria's Ebewe Pharma GmbH, Pfizer Inc. (NYSE:PFE) is expanding in India.Pfizer entered into agreements with Claris Lifesciences Ltd. to commercialize sterile injectable medicines after the products are no longer...
Posted on May 20, 2009 4:18 PM
Does a business model combining pharmaceutical drugs and consumer products make for good corporate strategy? It's a question nearly every pharma giant has considered at one point or another. Well, the findings of a new study from pharmacy benefits management provider Medco Health Solutions adds another data point to the...
Posted on May 13, 2009 1:34 PM
As its first-quarter results were hammered by generic competition, GlaxoSmithKline plc (NYSE:GSK) chief executive Andrew Witty's game plan is to stay away from megamergers, expand in emerging markets and shift money from pharmaceuticals into vaccines and consumer businesses as more blockbuster drugs face generic competition. One such drug is its...
Posted on May 6, 2009 9:03 AM
London-based pharma market intelligence report publisher URCH Publishing, which itself recently acquired pharma research firm Spectra Intelligence, is making predictions about who among the top 10 pharmas will follow in the footsteps of the sector's three biggest deals this year, with Bristol-Myers Squibb Co. (NYSE:BMY), Bayer AG and Novartis...
Posted on April 23, 2009 9:14 AM
GlaxoSmithKline plc (NYSE:GSK) is acquiring the world's largest independent dermatology company, Stiefel Laboratories Inc., for up to $3.6 billion. So far most reports have focused on Glaxo CEO Andrew Witty's strategy, which includes staying away from megamergers, expanding in emerging markets and shifting money from pharmaceuticals into vaccines and...
Posted on April 20, 2009 5:39 PM
The healthcare industry is restructuring itself to reduce its reliance on blockbuster drugs while trying to gain a foothold in the generics market and the emerging markets. We've seen megamergers and bolt-ons, and there's more to come. New York boutique investment bank Centerview Partners LLC is right on top of...
Posted on April 15, 2009 12:47 PM
New York's Pfizer Inc. (NYSE:PFE) wants to take control of its Indian unit. Through indirect subsidiary, Pfizer Investments Netherlands BV, it will offer to acquire a 33.77% stake in Pfizer Ltd. from public shareholders at 675 rupees ($13.53) per share in a deal valued at about $136 million. However, the...
Posted on April 13, 2009 8:58 AM
After Pfizer Inc. (NYSE:PFE) completes its $68 billion acquisition of Wyeth in the third quarter, it will retain eight senior executives from Wyeth and create two distinct research organizations to capitalize on their respective strengths in pharma and biotech.A Wall Street Journal report points out that previous Pfizer deals have...
Posted on April 7, 2009 1:14 PM
Eli Lilly & Co. (NYSE:LLY) CEO John Lechleiter (pictured) wants to stop the mega-merger madness. He told the Financial Times the recent big drug mergers are "driven more by weakness" and are short-term fixes that fail to address long-term productivity problems. He specifically rejected the idea of a combo with...
Posted on March 30, 2009 2:04 PM
The deal may not be quite as big, but Pfizer Inc. (NYSE:PFE) recognizes the importance of the generic drug market.Following Sanofi-Aventis SA's $1.9 billion acquisition of Czech drug maker Zentiva NV -- making it the world's No. 11 maker of generic medicines, -- Pfizer signed a deal with India's Aurobindo...
Posted on March 3, 2009 4:22 PM
Pfizer Inc. hopes to close its $68 billion deal to buy Wyeth by the end of 2009. To get there it will have to pass muster with antitrust regulators and credit agencies. Then the real work of integration begins. In this edition of Inside The Deal, Robbert van Batenburg, head...
Posted on February 16, 2009 12:53 PM
The latest Knowledge at Wharton newsletter explores Pfizer Inc.'s proposed $68 billion bid for Wyeth in a lengthy Q&A with healthcare professor Patricia Danzon and marketing professor Jagmohan Raju. The two professors discuss deal rationale, short- and long-term benefits, job cuts, integration (which our Kenneth Klee explored previously) and the...
Posted on February 5, 2009 11:20 AM
Tokyo's Astellas Pharma Inc. took to the newswires and made another unsolicited bid to acquire CV Therapeutics Inc. of Palo Alto, Calif. The $16 per share ($1 billion) offer is Astellas' second attempt in three months at buying the heart drugmaker. Perhaps it feels the timing is better with Pfizer...
Posted on January 27, 2009 9:26 AM
Stocks rose in part on the news of Pfizer Inc.'s $68 billion acquisition of rival Wyeth, which could prompt further consolidation in healthcare. While the synergistic deal would provide Pfizer with a broader range of products and help make up for the loss of patent protection for its cash cow...
Posted on January 26, 2009 12:48 PM
As pharmaceutical companies look to load the pipeline with licensing deals and acquisitions, biotech firms are positioning themselves to be on the receiving end of deals. Two of those firms are Jennerex Inc. and Gen-Probe Inc., which on Tuesday added new dealmakers. Biotherapeutics firm Jennerex hired industry veteran Samatha Miller...
Posted on January 14, 2009 11:20 AM
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...
Posted on January 5, 2009 9:43 AM
Strategic alliances have always been an efficient mechanism for pharmaceutical companies to pursue development of multiple drugs. But as R&D costs skyrocket and the length of time required for regulatory approval lengthens, they're becoming an even more critical tool. On Wednesday, GlaxoSmithKline plc and Pfizer Inc. both announced new R&D partnerships....
Posted on December 18, 2008 10:18 AM
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