A Reuter's report has Pfizer purchasing Synbiotics Corp for 30.6 cents per share to its shareholders. Pfizer is known to be looking to diversify its business portfolio as is faces one of the steeper patent cliffs in the ethical pharma industry and lacks the pipeline to replace the revenues from drugs like Lipitor as patents expire.
Pfizer reportedly had been interested in acquiring assets in the animal health industry earlier this year from Merck and Sanofi - specifically in the companion animal segment. The Synbiotic deal would presumably provide synergies with diagnostic products for companion animals. The diagnostics segment is reportedly growing at about 8% annually or twice that of the overall animal health market.
So now Pfizer will have companion diagnostics for companion animals.
Posted by Bruce Lehr December 29th 2010.
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