About My Health Careers Internship MedBlogs Contact us
Medindia LOGIN REGISTER
Advertisement

Pfizer Plans To Raise Bid for AstraZeneca: Media Reports

by Bidita Debnath on May 4, 2014 at 12:28 AM
Font : A-A+

 Pfizer Plans To Raise Bid for AstraZeneca: Media Reports

Media reports reveal that Pfizer plans to increase its bid to acquire AstraZeneca as it seeks to bring the British pharmaceutical giant to the negotiating table.

Pfizer disclosed Monday that AstraZeneca in January rejected an offer of about $99 billion to acquire the British company and that AstraZeneca last weekend rebuffed a second effort to engage in merger talks.

Advertisement

AstraZeneca on Monday said Pfizer's bid "significantly undervalued" the British company.

Reports in financial media, citing unnamed sources, said Pfizer plans to bid $106 billion or thereabouts, with some of the stories saying the pharmaceutical giant could offer a larger share of the offer in cash as opposed to Pfizer stock.
Advertisement

Pfizer declined to comment on the reports.

The biggest US drug maker by revenue has said the deal would combine research pipelines in oncology and other key disciplines. Pfizer also cited the potential for huge spending cuts and a lower tax bill.

Pfizer's attempt to buy AstraZeneca comes amid a wave of deal-making in the pharmaceutical sector as drugmakers face big sales declines due to patent expirations.

Source: AFP
Advertisement

Advertisement
News A-Z
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
News Category
What's New on Medindia
Printed Temperature Sensors help with Continuous Temperature Monitoring
Health Benefits of Giloy
Breast Cancer Awareness Month 2021 - It's time to RISE
View all

Medindia Newsletters Subscribe to our Free Newsletters!
Terms & Conditions and Privacy Policy.

More News on:
Top Ten Selling Drugs 

Recommended Reading
Merger Tussle Between Drugs Giants Pfizer, AstraZeneca With $100 Bn Deal
An informal approach worth almost $100 billion between US drugs giant Pfizer entering into merger .....
Pfizer Drug Shows Promise in Slowing Down Breast Cancer Progression
Experts suggest that an experimental cancer drug developed by Pfizer could provide a potential ......
Generic Viagra Sale in US: Pfizer Reaches Settlement With Teva
A patent litigation against Teva Pharmaceuticals over the sale of a generic version of blockbuster ....
To Identify Targets for Treatment of Insulin Resistance and Diabetes Sanford-Burnham Collaborates With Pfizer
Sanford-Burnham Medical Research Institute (Sanford-Burnham) announced that it has entered into a .....

Disclaimer - All information and content on this site are for information and educational purposes only. The information should not be used for either diagnosis or treatment or both for any health related problem or disease. Always seek the advice of a qualified physician for medical diagnosis and treatment. Full Disclaimer

© All Rights Reserved 1997 - 2021

This site uses cookies to deliver our services. By using our site, you acknowledge that you have read and understand our Cookie Policy, Privacy Policy, and our Terms of Use