Pfizer May Get Into Bidding For Ranbaxy, Generic Drug Maker

MUMBAI (Reuters) - Pfizer may bid for Ranbaxy Laboratories, countering a $4.6 billion (2.4 billion pound) offer by Japan's Daiichi Sankyo for the Indian generic drug maker, the Business Standard newspaper said.

Ranbaxy's shares jumped nearly 5 percent on the report while Daiichi Sankyo's shares dropped 2 percent.

Pfizer, the world's largest drug maker, may bid for the about 65 percent of Ranbaxy held by institutions and public shareholders, the newspaper reported on Friday, citing unidentified sources familiar with the development.

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Comments

[Hopalongpoppyseed]

Nothing good would come of Pfizer gaining control of a generic drug-maker. After heart bypass surgery, my doctors prescribed many of the latest drugs. They were very expensive. When I switched them all to generics my monthly bills went from about $500.00 dollars to $50.00. There oughta be a law against such a danger to the public well being.

"Oh but the pusher is a monster
Good God, he's not a natural man
The dealer for a nickel..." (Steppenwolf)

[smokeystover39]

Pfizer bidding to but a GENERIC drug maker - whatever for??? Generic drug makers either make drugs under license (kinda like "house brand" canned goods in the grocery store) OR drugs which no longer have patent protection. Gee - snap up the generic drug maker, their products disappear and SHAZZAM you get to buy only the high priced PFIZER drugs. How cool is that? Hey Montel, get your pillmobile on the road to stop this insanity - Oh, I'm sorry I forgot you are one of their pimps. Never mind.