Monday, January 26, 2009

Biotech Acquisition

US drug manufacturer Pfizer Inc. will acquire rival Wyeth for $68 billion, making it the largest pharmaceutical takeover deal in nearly a decade, the two companies announced early Monday.

Under the terms of the cash-and-stock transaction, each outstanding share of Wyeth common stock will be converted into a shareholder right to receive $33 in cash and 0.985 of a share of Pfizer common stock.

Pfizer will begin to face U.S. generic competition in 2011 for the cholesterol drug Lipitor. Next year, Wyeth loses patent protection on its own top drug, the antidepressant Effexor XR.

1 comment:

hatkitz said...

Once you get hold of the medicine effexor XR after obtaining a doctor`s prescription for the same, you should administer it carefully as per the instructions provided by the physician and the guidelines available pertaining to its usage. The tablets/capsules of Effexor XR are not meant to be chewed/crushed/dissolved in water, instead should be swallowed along with a glass of water.