Advertisement
Sigma-Aldrich
Sigma-Aldrich

Pharma Buyout Tabled

Pfizer says it won’t continue its pursuit to purchase AstraZeneca—at least for now.

By | May 27, 2014

FLICKR, IMAGES MONEYThe impending acquisition that has kept those in the pharmaceutical industry at the edge of their seats for the last several weeks is not going to happen after all: following multiple rejected offers, Pfizer said Monday (May 26) that it will no longer pursue the purchase of AstraZeneca.

“We are now moving on,” Pfizer CEO Ian Read told The Wall Street Journal. But he remained vague about his firm’s future plans: “We have no idea whether we’d be interested in AstraZeneca at any point in the future.”

For now, AstraZeneca executives—who had rejected Pfizer’s most recent acquisition bid of around $119 billion in cash and stock, according to The New York TimesDealBook—are breathing a sigh of relief. “We welcome the opportunity to continue building on the momentum we have already demonstrated as an independent company,” AstraZeneca’s Chairman Leif Johansson said in a statement.

Advertisement

Add a Comment

Avatar of: You

You

Processing...
Processing...

Sign In with your LabX Media Group Passport to leave a comment

Not a member? Register Now!

LabX Media Group Passport Logo

Popular Now

  1. The Mycobiome
    Features The Mycobiome

    The largely overlooked resident fungal community plays a critical role in human health and disease.

  2. Antibody Alternatives
    Features Antibody Alternatives

    Nucleic acid aptamers and protein scaffolds could change the way researchers study biological processes and treat disease.

  3. Holding Their Ground
    Features Holding Their Ground

    To protect the global food supply, scientists want to understand—and enhance—plants’ natural resistance to pathogens.

  4. Circadian Clock and Aging
    Daily News Circadian Clock and Aging

    Whether a critical circadian clock gene is deleted before or after birth impacts the observed aging-related effects in mice.

Advertisement
Bio-Rad
Bio-Rad
Advertisement
Life Technologies