SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Speculating in Takeover Targets
CTG 9.025+4.0%3:59 PM EST

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
From: richardred10/12/2010 11:34:41 AM
   of 6105
 
Deal Profile: Pfizer to Acquire King Pharmaceuticals


By Stephen Grocer

Pfizer agreed to buy pain-drug maker King Pharmaceuticals for $3.6 billion in cash.

The deal comes a year after Pfizer bought Wyeth for $68 billion, a deal which unleashed a run of merger activity in the pharmaceutical industry. Big drug makers face the expiration of patents on many flagship drugs, which opens the doors for much cheaper generic versions of those drugs to enter the market.

Under the agreement, Pfizer will pay $14.25 per share for King, a 40% premium to Monday’s closing price. King’s stock through Monday was down 17% this year as the Bristol, Tenn., company has been struggling to find a replacement for its once-best-selling Altace blood-pressure treatment, whose sales plunged due to generic competition. More recently, the Skelaxin pain killer also became subject to generic competition.
blogs.wsj.com
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext