Tagged Articles

merger 2 articles

AstraZeneca refuses Pfizer’s final offer to move forward with merger; now in cool-down period

What would have been the world’s largest drug company merger has been called off last-minute by Pfizer. AstraZeneca, the company that was to be bought, refused to take up Pfizer’s final offer of £55 a share – an offer that many believed would get AstraZeneca to the table for negotiations. “Following the AstraZeneca board’s rejection of the proposal, Pfizer announces that it does not intend to make an offer for AstraZeneca,” Pfizer said in a short news release. Pfizer, the largest drug company in the world currently, says that it chooses not to go hostile, but would rather let the ... Read More

Actos patent expiration sets Takeda on acquisitions hunt

Faced with sharply dwindling profits, Japan’s Takeda Pharmaceutical Co. has gone on an international shopping spree in search of drug company acquisitions that would introduce new drugs to the Takeda line and help offset a cash crunch brought about by the patent expiration on its diabetes drug Actos and other key drugs. Takeda, the largest pharmaceutical company in Asia, has spent almost $15 billion in overseas acquisitions in less than two years and has its sights set on other companies that could give it a needed boost. Last year, the company paid $13.7 million for the Swiss company Nycomed, which ... Read More