Pfizer
is one of the most prominent names in the health care sector that is working
for a disease free, healthier and safer world. The sole business of the company
is to produce and sell medicines globally. The company came into existence in
New York City in the year 1849 by Charles Pfizer and Charles Earnest. PFE is apopular name in the healthcare sector and they have come up with many products
that have revolutionized the paradigms of healthcare. The company is now focusing on buying back
stocks which is now their major aim.
However,
despite of failing many times in various attempts to sign AstraZeneca, the
company switched its attention and signed a block buster deal with Merck KGaA
in previous months. This decision left analysts and the board of AstraZeneca inshock as they were expecting that Pfizer will be coming back with another bid
to lure the company. According to the deal between Pfizer and Merck KGaA, Pfizer
will make an upfront payment of $850 million, with additional payment of $2
billion contingent on regulatory and commercial milestones.
According
to Forbes, “The transaction is certainly very significant for Merck KGaA which
has found a partner with deep pockets and a quicker entry in the U.S. oncologymarket. From Pfizer’s perspective, this is a massive investment considering the
drug’s stage. However, the potential reward could also be big as
immuno-oncology market is expected to pick up over the next few years.”
The
company is confident in signing a huge cancer deal with Merck KGaA.
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