News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

Pfizer Inc. (PFE) Raising AstraZeneca PLC (AZN) Bid Means More Job Cuts On The Horizon


5/9/2014 8:01:17 AM

Pfizer is putting jobs on the line but others are hiring too! Check it out! (Isn't it tempting?)

A potential raised bid for AstraZeneca Plc (AZN) means that Pfizer Inc. (PFE) would have to generate more than $2 billion in annual savings from the deal, and that job cuts are more likely to happen outside the U.K. AstraZeneca, the U.K.’s second-biggest drugmaker, rejected Pfizer’s offer last week of more than $106 billion, about 50 pounds a share, some 32 percent of which is in cash. At that price, Pfizer would have to save at least $2 billion for the bid to add to earnings in 2014 and 2015, according to an analysis by Bloomberg Industries.

Don't forget, hundreds of biopharma companies are hiring! (We know you can't resist.)

Read at Bloomberg


comments powered by Disqus
Bloomberg
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES