The pharmaceutical rumour mill is still spinning with the latest speculation that UK drug major GSK is interested in Botox manufacturer Allergan causing the US firm’s share price to leap 13 per cent on the New York Stock Exchange.
The global economic downturn, impending blockbuster patent expiries and the wave of consolidation sweeping the pharmaceutical industry will drive demand for Patheon’s restructuring service according to CEO Wesley Wheeler.
The year of the mega-merger continues with Merck & Co’s move to buy Schering-Plough for $41.1bn, with the intention of boosting its pipeline, entering new markets and creating a “powerful biologics presence”.
Genentech believes a far-sighted approach to patent expiration, unique and life saving drugs and an unrivalled scientific culture will protect it from recession and ensure greater growth than Roche envisions.
New Sanofi Aventis chief Christopher Viebacher has virtually ruled out major acquisitions, eschewing the trend started by Pfizer’s $68bn (€53bn) swoop for Wyeth in favour of an anti-mega merger stance like that adopted by UK rival GSK.