Pfizer May Be Looking at M&A Targets Other Than Astra: Bernstein
2014-09-11 06:35:06.32 GMT
By Allison Connolly
Sept. 11 (Bloomberg) -- Pfizer won’t be “held hostage” by
Astra and is considering other types of targets, including pure-
play generic companies, Bernstein says in note following call
with Pfizer management, including CEO Ian Read.
* Generics companies of interest would be those that make
biosimilars and hard-to-make generics
* Also interested in consumer health
* Says managers suggested Astra doesn’t have a highly unique,
must-have collection of pipeline products
* Says co. has put high priority on tax inversion and believes
the “inversion window” is still open
* Says co. emphasized “substantial possibility” that its
established products division (GEP) may be better as a
separate corporation; buying Astra would’ve helped GEP
achieve a stronger outlook with more sustainable growth
* Rates Pfizer outperform, PT $33; Astra market-perform, PT
4,311p
* NOTE: Sept. 3, AstraZeneca Bullish Options Gain on Bets of
Pfizer Comeback Bid
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To contact the reporter on this story:
Allison Connolly in London at +44-20-3525-7043 or
aconnolly4@bloomberg.net
To contact the editors responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net
Gaurav Panchal
2014-09-11 06:35:06.32 GMT
By Allison Connolly
Sept. 11 (Bloomberg) -- Pfizer won’t be “held hostage” by
Astra and is considering other types of targets, including pure-
play generic companies, Bernstein says in note following call
with Pfizer management, including CEO Ian Read.
* Generics companies of interest would be those that make
biosimilars and hard-to-make generics
* Also interested in consumer health
* Says managers suggested Astra doesn’t have a highly unique,
must-have collection of pipeline products
* Says co. has put high priority on tax inversion and believes
the “inversion window” is still open
* Says co. emphasized “substantial possibility” that its
established products division (GEP) may be better as a
separate corporation; buying Astra would’ve helped GEP
achieve a stronger outlook with more sustainable growth
* Rates Pfizer outperform, PT $33; Astra market-perform, PT
4,311p
* NOTE: Sept. 3, AstraZeneca Bullish Options Gain on Bets of
Pfizer Comeback Bid
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Allison Connolly in London at +44-20-3525-7043 or
aconnolly4@bloomberg.net
To contact the editors responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net
Gaurav Panchal