Amgen could be Pfizer takeover target
pharmafile | December 18, 2008 | News story | Sales and Marketing | Amgen, MA, Pfizer
Pfizer could be preparing itself to buy Amgen to maintain its lead in the sector, according to a leading analyst.
Barbara Ryan at Deutsche Bank says Pfizer is facing a huge problem when its patent on Lipitor expires in 2010, and is well positioned to buy out the major biotech company.
Ryan says Pfizer has too few drugs in its pipeline to replace the revenue that will be lost when its blockbusters face generic competition, but that it also lot of cash available, giving it a "unique opportunity" for acquisitions in 2009.
According to CNN, Ryan thinks consolidation will be necessary to the success of many companies in the near future, and that Pfizer could lead a new trend.
She said: "The most likely company to act first is Pfizer, largely because they have the biggest cliff to mount.
"The deal we think makes the most sense is Amgen. Pfizer has talked about being a player in biotech and oncology … they can't really pussyfoot their way around this. We believe they've got to put a big stake in the ground, and Amgen would do that."
Amgen is the world's biggest biotech company and has more than 50 molecules in its pipeline, which has more than doubled in size since 2001.
It has been keen to reaffirm its pipeline potential in the face of a declining blockbuster anaemia portfolio, and recently claimed that two of its early stage products are potential blockbusters in three indications.
Pfizer has a market capitalisation of around $112 billion, and Amgen stands at $61 billion. Pfizer had about $26 billion in cash and short-term investments as of Sept 2008.
Both Pfizer and Amgen chose not to comment on the speculation.
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