Thursday, March 12, 2009

Bigger Pharma

Well, the pharma industry just got bigger.

Merck's $41 billion acquisition of Schering-Plough (Link)
Though Merck & Co. has agreed to pay Schering-Plough Corp. $2.5 billion if it fails to get financing for its proposed $41 billion takeover of the rival drug maker, according to a filing with the Securities Exchange Commission.

Pfizer's takeover of Wyeth for $68 billion. (Link)

Roche's bid of a $47 billion deal with Genentech. (Link)

Another article from CNN Money on Big Pharma's new landscape.

Now, Pfizer, the world's top drug maker, and French firm Sanofi-Aventis are in the race to buy a stake in Indian Wockhardt Ltd's biotechnology business.

I guess the good thing is that economy/recession/meltdown don't seem to affect the biotech industry.

Read about the article: Biotech industry expected to grow despite global meltdown

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