Pfizer CEO Ian Read not only isn't done with deals after his Hospira purchase; he's also looking at creative swaps, a la the Novartis-GlaxoSmithKline deals.
A 13% jump in the number of compounds in development at AstraZeneca has seen it leapfrog Pfizer ($PFE) to claim fourth place on Citeline's list of the biggest development pipelines. The switch means European Big Pharma companies occupy the top four spots, with GlaxoSmithKline, Novartis and Roche taking the podium positions.
Pfizer may have agreed on Thursday to pick up injectable drugmaker Hospira for $17 billion, but don't expect it to stop its dealmaking there, analysts say.
After signing up to acquire Hospira for $17 billion, Pfizer is just getting started, analysts say, pointing to Pfizer's failed quest for AstraZeneca as evidence that the drugmaker is looking for some transformational M&A.
Pfizer CEO Ian Read is dipping into the pharma giant's big reserve of cash to gobble up Hospira, one of the pioneers in the move to develop biosimilars of blockbuster biologics.
Hospira is merging with Pfizer for about $16 billion as the company attempts to revive its long-beleaguered device business and cash in on a growing sterile injectables and biosimilars market.
Pfizer has snapped up Hospira, an injectables specialist, for $90 per share, or some $15 billion, plus debt assumption.
Pfizer picked up a speedy FDA nod for palbociclib, a breast cancer treatment with blockbuster potential, barreling toward the market as it works to carve out a bigger share of the oncology space.
For the past couple of years, the pharma industry has had something of a reprieve from patent-cliff nightmares. But according to Moody's Investors Service, some companies face new threats to their sweet dreams.
A Pfizer plant in Ireland that was slated to close last year is still running strong, as sales of blockbuster cholesterol drug Lipitor remain vibrant in some parts of the world three years after losing its U.S. patent.