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.
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.
Pfizer CEO Ian Read makes no apologies for his interest in working a deal to move his tax home overseas. Despite the U.S. government's attempt to discourage tax inversions--like the one Pfizer would have achieved by buying AstraZeneca--Read says he's not deterred.
No news isn't good or bad for Pfizer deal-watchers. It's just no news. Anyone hoping for a halfway-clear idea of CEO Ian Read's next buyout move was disappointed after Tuesday's second-quarter earnings call with analysts.
Long dominated by global behemoths like Johnson & Johnson and Pfizer, this executive-pay ranking now includes almost as many biotechs as pharma companies.
With the official deadline for any immediate takeover discussions looming on Monday, Pfizer picked up its ball and bat and headed for the lockers, officially calling an end to its odd quest to buy out AstraZeneca.
AstraZeneca Chairman Leif Johansson condemned the tax inversion scheme at the heart of the proposal--along with the cost-cutting that would have followed the megamerger--and confidently chose to gamble the company's future on its new and expanded pipeline.
With U.K. lawmakers skeptical of Pfizer's commitment to keep AstraZeneca jobs and AstraZeneca science in the U.K., Pfizer over the weekend released a series of videos focusing on that science--and downplaying the tax benefits CEO Ian Read crowed about so loudly when first confirming his company's trans-Atlantic bid.
Reuters reports that British Prime Minister David Cameron is now demanding stronger guarantees that Pfizer's buyout of AstraZeneca won't decimate the country's science community and leave a host of employees jobless.
Pfizer considers itself a megamerger expert. And it's hoping to prove that with another megadeal--a $100-billion-or-so buyout of AstraZeneca. After last week's headlines about a possible buyout, both companies confirm that Pfizer is hot to trot and ready to parley.