Top 10 Pharma–Deals: The Biggest Fusions of a 265 Billion Dollar Market

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Place 2 – Pfizer/Warner-Lambert – 89 billion dollars (1999/finalised)

After a takeover battle lasting several months, Pfizer finally succeeded, in 1999, in taking over the US rival Warner-Lambert. 89 million dollars changed hands in the deal (on top of which came 1.8 billion dollars penalty payment to American Home Products), making it the fourth biggest takeover in history. Only Vodafone/Mannesmann, AOL/Time-Warner and MCI Worldcom/Sprint had cost more. Pfizer and Warner Lambert had already cooperated in a joint venture starting in 1996. The hostile takeover bid by American Home Products for Warner Lambert was seen by Pfizer as a threat to this cooperation; they in turn reacted with a hostile takeover bid.

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Place 1 – Pfizer/Astra Zeneca – 118 billion dollars (2014/outcome open)

At the beginning of 2014, Pfizer once again caused a stir with a record bid for the British competitor Astra Zeneca. For 99 billion dollars, the US Americans wanted to purchase the Brits. Astra Zeneca turned down not only this, but also two further offers of 106 and 118 billion dollars each. For Pfizer, a hostile takeover is not a viable option. According to British law, Pfizer now has to wait until the end of 2014. Only then can the Viagra manufacturer make a new offer for Astra Zeneca. Astra Zeneca explains its rejection with, on the one hand, a purchase price which is in their opinion too low and, on the other hand, fear of job losses in the United Kingdom.

Johnson & Johnson, Novartis, et al

Top 10 Pharmaceutical Companies by Revenue

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