As reported by Bloomberg late Friday, Pfizer CEO Jeffrey Kindler is making his pitch to acquire the German generic drugmaker. The offer at the moment is reported to be 3B euros ($4.08 B). The deal would allow Pfizer to more easily compete with generic competitors and bolster Ratiopharms sales presence in the market.
However, generic powerhouse Teva Pharmaceuticals Industries Ltd and the Actavis Group hf of Iceland are also said to be in the hunt. Teva made its pitch to Ratiopharm last week and Actavis comes to bat next week. Ratiopharm is expected to make its choice known by the end of the month as the Company struggles to repay debts run up by its founder, Adolf Merckle, after a series of poor stock investments.
Posted by Bruce Lehr March 7th 2010
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