Pharma Deals North of $10 Billion Seen Returning in 2013 - Bloomberg

Get ready for the return of the $10 billion-plus drug deal. Pharmaceutical companies including Pfizer Inc. (PFE) and Bristol- Myers Squibb Co. (BMY) have spent the last several years digesting earlier acquisitions, refocusing their product development and setting aside cash in anticipation of expiring patents. Now, the expectation is they’re ready to start buying again. Led by Pfizer, in New York, and Whitehouse Station, New Jersey-based Merck & Co. (MRK), five of the largest U.S. drugmakers had more than $70 billion in cash, near cash and short-term investments at the end of the third quarter. Enlarge image Pharma Deals North of $10 Billion Seen Returning in 2013 Jonathan Fickies/Bloomberg Johnson & Johnson, Abbott Laboratories, Sanofi, Pfizer and Merck have already shown interest in one purchase that may top $10 billion: Bausch & Lomb Inc., the eye-care company, is for sale by Warburg Pincus LLC. Johnson & Johnson, Abbott Laboratories, Sanofi, Pfizer and Merck have already shown interest in one purchase that may top $10 billion: Bausch & Lomb Inc., the eye-care company, is for sale by Warburg Pincus LLC. Photographer: Jonathan Fickies/Bloomberg “We’re through many cost-cutting programs, restructurings and portfolio arrangements,” said Henry Gosebruch, managing director of...
Source: PharmaGossip - Category: Pharma Commentators Authors: Source Type: blogs