Novartis AG, Bayer AG Vying for Pfizer Inc.'s Animal Health Business
Published: Mar 08, 2012
Bayer AG (BAYN), the largest German drugmaker, is weighing a bid for Pfizer Inc.’s (PFE) animal-health unit and discussing how to raise funding with banks, said people with knowledge of the plans. Bayer is in the early stages of considering a bid and may ultimately decide against making one, said the people, who declined to be identified because the process is confidential. The Pfizer veterinary business is likely to fetch $14 billion to $18 billion in a sale, according to research firm Leerink Swann LLC. Novartis AG (NOVN), Europe’s second-biggest pharmaceutical company, may also be interested in the business, people familiar said.