Australian Authorities Spoil Sigma Money-Saving Merger
This article was originally published in PharmAsia News
An Australia grocery wholesaler canceled plans to buy Primary Health Care's pharmaceuticals distribution business, Symbion. Primary had obtained the pharmaceuticals business when it bought Symbion Health. Wholesaler Metcash had been considering the buy in part because it has a joint-venture and logistics plan with Sigma Pharmaceuticals. Sigma had hoped to save millions a year with the proposed merger, and is expected to consider ties with other firms to make a new bid for Symbion. Primary's offer apparently was scuttled when Australian authorities failed to approve its purchase of Symbion. (Click here for more
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