SEARCH
« Wells Fargo: Reviewing Foreclosure Affidavits; No Suspension | Main | Gap Listens to Customers: Bring Back the Blue Box »
Tuesday
Oct122010

Pfizer Buying Maker of EpiPen, Pain Meds

Photo Courtesy - Getty Images(NEW YORK) -- Pfizer is buying King Pharmaceuticals, the maker of the EpiPen emergency drug system and pain drugs containing elements meant to prevent misuse of the drug.  The $3.6 billion dollar cash deal has Pfizer beginning a tender offer, paying $14.25 per share, which represents a 40 percent premium on King's Monday closing price.

In addition to the EpiPen, King makes pain medicines like Skelaxin and Embeda, along with drugs used in the veterinary field.  Pfizer Chief Executive Jeffrey Kindler issued a statement saying the combination of Pfizer and King's portfolios is "highly complementary." 

The King deal represents Pfizer's first major purchase since it bought Wyeth last year. 

Copyright 2010 ABC News Radio

 

References (3)

References allow you to track sources for this article, as well as articles that were written in response to this article.
  • Response
    Response: Source
    Wonderful Website, Continue the fantastic work. Thank you so much!
  • Response
  • Response
    Pfizer Buying Maker of EpiPen, Pain Meds - Business News - ABC News Radio

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Post:
 
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>






ABC News Radio