Pfizer, AstraZeneca Issue Statements on Merger Talks - Pharmaceutical Technology

Latest Issue
PharmTech

Latest Issue
PharmTech Europe

Pfizer, AstraZeneca Issue Statements on Merger Talks


In separate statements issued on April 28, Pfizer and AstraZeneca confirmed previous discussions about a possible mergertook place in January 2014.  AstraZeneca declined to engage in further discussion at that time. Pfizer reported that it contacted AstraZeneca on April 26 seeking to renew discussions; however, AstraZeneca again declined to engage in discussions.

AstraZeneca, it its statement, reported that its board concluded that the proposal, reportedly worth $100 billion, “very significantly undervalued” the company and its prospects. The board also said it was committed to executing the strategy announced in March 2013.

In its statement, Pfizer listed a number of benefits of a combined company, including a strong cancer therapy portfolio, greater depth in immune-oncology, cardiovascular medicines, anti-diabetic medicines, as well as enhanced distribution capabilities. Financial analysts have identified tax advantages for Pfizer; if the two companies combine under a UK-holding company, Pfizer would benefit from lower tax rates in Britain.

Sources:
Pfizer statement

AstraZeneca statement

 

ADVERTISEMENT

blog comments powered by Disqus
LCGC E-mail Newsletters

Subscribe: Click to learn more about the newsletter
| Weekly
| Monthly
|Monthly
| Weekly

Survey
What role should the US government play in the current Ebola outbreak?
Finance development of drugs to treat/prevent disease.
Oversee medical treatment of patients in the US.
Provide treatment for patients globally.
All of the above.
No government involvement in patient treatment or drug development.
Finance development of drugs to treat/prevent disease.
23%
Oversee medical treatment of patients in the US.
14%
Provide treatment for patients globally.
7%
All of the above.
47%
No government involvement in patient treatment or drug development.
9%
Jim Miller Outsourcing Outlook Jim MillerOutside Looking In
Cynthia Challener, PhD Ingredients Insider Cynthia ChallenerAdvances in Large-Scale Heterocyclic Synthesis
Jill Wechsler Regulatory Watch Jill Wechsler New Era for Generic Drugs
Sean Milmo European Regulatory WatchSean MilmoTackling Drug Shortages
New Congress to Tackle Health Reform, Biomedical Innovation, Tax Policy
Combination Products Challenge Biopharma Manufacturers
Seven Steps to Solving Tabletting and Tooling ProblemsStep 1: Clean
Legislators Urge Added Incentives for Ebola Drug Development
FDA Reorganization to Promote Drug Quality

Click here