If you follow pharmaceutical manufacturer business, you will be interested in knowing that talks are taking place where Pfizer, the world's largest pharmaceutical manufacturer is negotiating to acquire Wyeth, another major manufacturer.
Wyeth is known in mental health care for meds such as Effexor, Ativan and Serax along with a multitude of other major prescriptions and OTC products.
Pfizer is trying to fill the void when Lipitor patents expire and generic replacements will be marketed in 2011.
The Wall Street Journal reported late on Friday, Jan 23, 2009 that Pfizer would pay $50 per share for Wyeth, or between $65 billion and $70 billion, for the company.
These are two of the biggest major players in the industry, both of which have acquired and merged with numerous companies over the last four decades.
Concerns are that this merger could trigger large scale layoffs at a difficult time in the economy.
More details at Reuters Canada
Wyeth is known in mental health care for meds such as Effexor, Ativan and Serax along with a multitude of other major prescriptions and OTC products.
Pfizer is trying to fill the void when Lipitor patents expire and generic replacements will be marketed in 2011.
The Wall Street Journal reported late on Friday, Jan 23, 2009 that Pfizer would pay $50 per share for Wyeth, or between $65 billion and $70 billion, for the company.
These are two of the biggest major players in the industry, both of which have acquired and merged with numerous companies over the last four decades.
Concerns are that this merger could trigger large scale layoffs at a difficult time in the economy.
More details at Reuters Canada
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