Pfizer Eyes Tianjin Tianyao Pharmaceuticals For Acquisition
This article was originally published in PharmAsia News
According to sources, world's top steroid producer Pfizer plans to acquire number three rival Tianjin Tianyao Pharmaceuticals to further reinforce its number one position. Eying the lucrative steroid pie, which expands 11.8 percent annually in China, Pfizer is making overtures of alliance to Tianyao. Although Pfizer denies the news, many industry insiders confirm that both parties have held preliminary discussion. However, Pfizer faces a challenge in getting the nod from Tianjin Municipal Commission of State-owned Assets Supervision to acquire state-owned Tianyao. In addition, the deal needs to surmount the anti-trust judgment from China's Ministry of Commerce since the merger could result in domestic monopoly of steroid supply. (Click here for more - Chinese Language)
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