Pfizer turn its attention towards Bristol-Myers Squibb

Pfizer turn its attention towards Bristol-Myers Squibb

Pfizer is one of the giants of the pharmaceutical industry. Pharmaceutical industry. For the very long time, Pfizer was in quest to sign AstraZeneca on a block buster deal. But after a few attempts, Pfizer failed to sign AstraZeneca which let its hopes ending in smoke. Moreover, Pfizer dampens Astra bid after making a couple of attempts to sign the pharmaceutical huge. The pharmaceutical company has now turned its attention to purchase Bristol Myers Squibb. According to the reports coming from the Street, it is believed that Pfizer is eying to acquire Bristol Myers Squibb.
However the main question is that will the company end up completing the attainment of Bristol Myers Squibb? According to The Street, “Bristol-Myers, valued at $81 billion, could receive a potential bid from Pfizer valuing each Bristol-Myer share at $72, a premium of 23% to the company’s closing price of $58.89 Thursday – a day before rumors started circulating in the market about a potential attainment.”
Despite of receiving no comments from either of the companies, the reports are very strong that Pfizer might end up signing Bristol Myers Squibb. This has further resulted in an increase in the shares of Bristol Myers as the market speculations are running wild. With the rumors growing wild about this attainment, Pfizer is the planning to become the leading Pharmaceutical company in the oncology market ahead of its peers and competitors. Moreover, it is believed that this attainment will further help the company to bolster its position in the market. The attainment of Bristol Myers Squibb will help the company work toward becoming the top immuno-oncology business.
To be precise, these are a few reasons as to why Bristol Myers is very attractive for Pfizer and it has become an attractive property for the company. Pfizer has been signing various deals and attainments in the past times and the company has successfully signed a couple of deals after the Astra incident. Hence, these attainments are merely made to add and bring value to the pipeline of the company which is the company’s main objective for the coming times.

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