Pfizer's path forward: To generics? To biotech?

Jon Ogg — Fri, 13 Jun 2008 13:30:00 EST

Filed under: Pfizer (PFE), Merck and Co (MRK)

There is a report out of Reuters that may get the drug sector up in a whirlwind if it comes to pass. The implications aren't just that Pfizer Inc. may want to try to counter Japanese drug maker Daiichi Sankyo's bid for a majority stake in India's largest generic drug maker Ranbaxy. Daaichi Sankyo has put in a bid of roughly $4.6 billion for that majority stake.

Pfizer is stuck along with Merck & Co. Inc. (NYSE: MRK) and other Big Pharma drug players between a rock and a hard place as it has a mountain of cash, makes money, but has a perceived weak drug pipeline. If you thought that Big Pharma drug companies were under fire because of generic drugs, the issues may get much more convoluted.

Ranbaxy is India's largest generic drug maker, and India also has some restrictions on foreign ownership of its key companies and infrastructure. Whether or not the Pfizer deal comes to pass, it is becoming more and more inevitable that the big drug companies are going to have to either make more biotech buyouts to purchase better drug pipelines or that generic makers will become targets as a way to fend off the generic pressure. No wonder the short selling is lower in major biotechs.

Pfizer's path forward: To generics? To biotech? originally appeared on BloggingStocks on Fri, 13 Jun 2008 13:30:00 EST. Please see our terms for use of feeds.

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Newspaper wrap-up: Countrywide (CFC) cuts more jobs

Eric Buscemi — Thu, 06 Sep 2007 08:45:00 EST

Filed under: Newspapers, Magazines, Ford Motor (F), Countrywide Financial (CFC), CVS Corp (CVS), Tata Mtrs Ltd (TTM)

MAJOR PAPERS:

Countrywide Financial Corporation (NYSE: CFC) announced another 900 job cuts as the company slashes costs in the face of a drop in lending volumes and rising defaults, The Wall Street Journal reported.
Barron's Online's "Inside Scoop" section reported that CVS Caremark Corporation (NYSE: CVS) chairman Edwin Crawford sold 120K shares worth $45.4M Friday and Tuesday after exercising the same number of options for $2.8M.

OTHER PAPERS:

Italian carmaker Fiat (OTC: FIATY) is negotiating with India's Tata Motors Limited (NYSE: TTM) on a joint bid for Ford Motor Company's (NYSE: F) Jaguar and Land Rover divisions, reported the Telegraph.
British mobile telecom company Vodafone Group (NYSE: VOD) has received a $2B tax bill from the Indian government, reported the U.K. Times.
The Economic Times reported, citing a source close to the development, that Ranbaxy has joined the bidding on Bradley Pharmaceuticals Inc (NYSE: BDY) by placing a preliminary non-binding bid on the company.

Newspaper wrap-up: Countrywide (CFC) cuts more jobs originally appeared on BloggingStocks on Thu, 06 Sep 2007 08:45:00 EST. Please see our terms for use of feeds.

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