NEW YORK (TheStreet) -- Shares of Pfizer
(PFE - Get Report)
were down 0.55% to $32.81 in morning trading Friday amid reports that
the pharmaceutical giant could pursue more acquisitions after its $17
billion purchase of Hospira
(HSP) .
Pfizer unsuccessfully sought a nearly $120 billion merger with AstraZeneca (AZN) last year, and its acquisition of Hospira comes at just a fraction of that cost. Pfizer therefore has room to make more acquisitions, and CEO Ian Read said the company continues to look at more opportunities, according to Bloomberg.
Kevin Kedra, an analyst at Gabelli & Co., believes that a Pfizer deal for Actavis (ACT) , which is closing its own $66 billion purchase of Botox-maker Allergan (AGN) , could fill the rest of Pfizer's needs.
Read more at Click here / www.trade4x.net
Pfizer unsuccessfully sought a nearly $120 billion merger with AstraZeneca (AZN) last year, and its acquisition of Hospira comes at just a fraction of that cost. Pfizer therefore has room to make more acquisitions, and CEO Ian Read said the company continues to look at more opportunities, according to Bloomberg.
Kevin Kedra, an analyst at Gabelli & Co., believes that a Pfizer deal for Actavis (ACT) , which is closing its own $66 billion purchase of Botox-maker Allergan (AGN) , could fill the rest of Pfizer's needs.
Read more at Click here / www.trade4x.net
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