news 4/16/2010
Pfizer Inc. plans to bid German generic maker –Ratiopharm, according to people familiar with the matter.
The offer would intensify the battle for Ratiopharm, which Israeli generic drug giant Teva Pharmaceutical Industries Ltd. and Iceland 's Actavis Group are also said to be bidding for.Word is that Actavis ' offer is the highest, which is at about 3 billion euros ($4.1 billion) including full debt of Ratiopharm.It is a biggest purchase since Teva bought Barr Pharmaceuticals Inc. for $7.5 billion in July 2008.Ratiopharm 's owner Ludwig Merckle is selling family assets to repay debt amassed by his father Adolf Merckle, the company 's founder, who committed suicide in January 2009 after making wrong-way bets on the stock market.The sources told that Pfizer intended to acquire Ratiopharm successfully while Israel Teva planned to acquire Ratiopharm at the earlier of this month.
The offer would intensify the battle for Ratiopharm, which Israeli generic drug giant Teva Pharmaceutical Industries Ltd. and Iceland 's Actavis Group are also said to be bidding for.Word is that Actavis ' offer is the highest, which is at about 3 billion euros ($4.1 billion) including full debt of Ratiopharm.It is a biggest purchase since Teva bought Barr Pharmaceuticals Inc. for $7.5 billion in July 2008.Ratiopharm 's owner Ludwig Merckle is selling family assets to repay debt amassed by his father Adolf Merckle, the company 's founder, who committed suicide in January 2009 after making wrong-way bets on the stock market.The sources told that Pfizer intended to acquire Ratiopharm successfully while Israel Teva planned to acquire Ratiopharm at the earlier of this month.
