Pfizer-Wyeth union is just another example of consolidation in the pharma industry.
The agreed merger of Pfizer Inc. and Wyeth is another example of continued consolidation within the pharmaceutical industry, says Robert Taketomo, PharmD, president and CEO of Ventegra in La Jolla, Calif.Pfizer said that it would acquire Wyeth for about $68 billion in a move to diversify its revenue base.
“[This move] is consistent with Pfizer’s goal of remaining one of the largest-if not the largest-pharma company,” Taketomo says. “The question is how such consolidation will impact the competitive and innovative nature of the industry.”Jeffrey B. Kindler, chairman and CEO of Pfizer said: “The new company will be an industry leader in human, animal and consumer health. With our combined biopharmaceuticals business, it will lead in primary and specialty care as well as in small and large molecules. Its geographic presence in most of the world’s developed and developing countries will be unrivaled.”
The combination with Wyeth advances strategic priorities Pfizer has identified and pursued over the last two years including: