In the last week there has been an eye popping 168 billion dollars in M&A deals rumored and/or announced by some of the world’s largest pharmaceutical companies, as well as wannabe giants.
Rumors that Pfizer will bid around USD 100 billion for rival AstraZeneca were reported on the weekend. On Monday, Canadian drugmaker Valeant Pharmaceuticals International said it had teamed up with Bill Ackman, a hedge fund manager, to bid Allergan, which makes Botox, according to news sources. The value of the deal is USD 40 billion. In addition, Novartis’ announced an acquisition of GSK’s oncology unit for up USD 16 billion. In turn GSK will by its vaccines business for USD 7.1 billion, plus royalties. Separately, Novartis said it will sell off its animal health division to Eli Lilly for about USD 5.4 billion. (Image Source: Bloomberg)