In one of the major takeover of this year, a innovator company (Pfizer) will takeover another innovator company (Wyeth). Last year a trend was seen where either generic compnay acquired generic company (like Teva acquired Barr) or innovator company acquired generic company (like Daiichi acquired Ranbaxy) as reported earlier by IPPharmdoc on pharma takeover Here.
Innovator company Pfizer had announcement on January 26 that it will buy Wyeth for $68 billion in cash and stock called up visions of past Pfizer acquisitions for many pharmaceutical executives—and some of those visions resembled nightmares. But Pfizer CEO Jeffrey Kindler, who took the top job in 2006, insists the Wyeth deal is different from its earlier mega-mergers with Warner-Lambert in 2000 and Pharmacia in 2003.
Link to full news Here
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