As a giant built on expansion, Pfizer announced a $17 billion to acquire generic drug manufacturer Hospira.The significance of this deal, besides expansion of Pfizer’s sales to hospitals, but means that Pfizer will be expanding its precious biotech drugs. The latter are difficult to produce, let alone develop, due to their reliance on living cells to be generated. This move was far better received by investors than the lengthy and failed courtship Pfizer had with AstraZeneca, causing shares of Pfizer to rocket up 2.87% yesterday to just under $33 per share.
February 6, 2015 – Stock Market News
As a giant built on expansion, Pfizer announced a $17 billion to acquire generic drug manufacturer Hospira.The significance of this deal, besides expansion of Pfizer’s sales to hospitals, but means that Pfizer will be expanding its precious biotech drugs. The latter are difficult to produce, let alone develop, due to their reliance on living cells to be generated. This move was far better received by investors than the lengthy and failed courtship Pfizer had with AstraZeneca, causing shares of Pfizer to rocket up 2.87% yesterday to just under $33 per share.