Pfizer not giving up on AstraZeneca merger

Pfizer and AstraZeneca are known as two of the biggest companies in the pharmaceutical industry. Pfizer have been trying a lot to join hands with AstraZeneca in recent times but it has failed to do so in a couple of events. AstraZeneca, being one of the top names, are reluctant to merge with Pfizer in the near future.

Pfizer not giving up on AstraZeneca merger 1

Bloomberg reports that “an Actavis buy would build up Pfizer’s established products unit, widely seen as the first prospect for another sale or spin-off. It would add some new products to Pfizer’s branded stable, which is in need of help. And because of Actavis’ recent buying spree, it’s worth some $59 billion–large enough to allow PFE to shift its domicile to Dublin.” So Actavis will be bolstering a large portfolio of the company by bringing high profile brand names along with newly approved drugs and medicines as well.

Pfizer not giving up on AstraZeneca merger 2

The spokesperson of the company, Joan Campion told that the company is looking for every available option. She further added that the company is “evaluate all opportunities, regardless of size, through the lens of value creation for our shareholders and enhancing the competitiveness of our business.” As recently, AstraZeneca has raised the bar by increasing its profits and revenues in 2014, it is expected that the company will raise its asking price. There are many analysts who believe that Pfizer is wasting its time in this deal. They are sure that this deal, which can be one of the biggest mergers in the pharmaceutical industry, can and will never go through.

Being one of the biggest names, AstraZeneca is too expensive for Pfizer at the moment. Either AstraZeneca are not content with the offer or Pfizer do not really have a great shot at buying AstraZeneca at the moment. Whatsoever be the reason, Pfizer is ready to give it another try as the company eyes Actavis in backup plan to another AstraZeneca bid.

 

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