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Pfizer In $60 Billion Merger Talks With Rival Wyeth

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http://business.timesonline.co.uk/tol/busi...icle5571416.ece

Pfizer, the world's biggest drugs company, is believed to be in talks to buy its rival Wyeth, for $60 billion.

The bid discussions are understood to be preliminary and are thought to include an agreement that the $60 billion sum would be paid in both cash and shares.

Such talks come as Wall Street has been forced to recognise that even the US healthcare sector - once believed to be immune from the American recession - are facing tough times. Last week, Pfizer made just under 1,000 redundancies and is understood to be planning around another 2,500 in the first quarter of this year.

Such a deal would bring together two companies which make drugs such as Lipitor, the cholesterol-busting treatment and Prevnar, the childhood vaccine.

The recession starting to trigger consolidation moves?

The drug industry has become just as bloated as everything else, nothing is immune.

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I remember the monopolies commission looking into the merger of GlaxoWellcome and SKB...and they only have a joint market share of 8%

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I remember the monopolies commission looking into the merger of GlaxoWellcome and SKB...and they only have a joint market share of 8%

This deal will give Pfizer around 10% of the global drug market. That doesn't sound like much, but it's a lot for one drug company. To put it in perspective, how would you feel about one company owning all the drugs for high cholesterol in the world? That would be quite a dangerous monopoly of a small part of the market.

Pfizer are doing this because their top-selling drug, Lipitor, is going off patent in 2010. They have to acquire another drugmaker because they are going to lose $11 billion a year in revenues.

Nothing to do with the recession or house prices, I'm afraid.

Edited by Woodworm

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This deal will give Pfizer around 10% of the global drug market. That doesn't sound like much, but it's a lot for one drug company. To put it in perspective, how would you feel about one company owning all the drugs for high cholesterol in the world? That would be quite a dangerous monopoly of a small part of the market.

Pfizer are doing this because their top-selling drug, Lipitor, is going off patent in 2010. They have to acquire another drugmaker because they are going to lose $11 billion a year in revenues.

Nothing to do with the recession or house prices, I'm afraid.

Yeah they began to test another drug that would be used in combination with lipitor, in an attempt to extend the patent life, but the new drug caused cardiac problems (or something like that). Share price took a spanking that day.

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  • 285 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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