Pfizer Eyes German Drug Maker Stada (PFE, TEVA)
Drug giant Pfizer Inc. (NYSE: PFE) is looking to acquire German generic drug maker Stada. Pfizer (PFE) recently lost its bid to acquire Ratiopharm. However, Pfizer needs to overcome a roadblock to acquire the German firm. Stada management has a provision for ‘vinculated’ shares, which means that the stock cannot be transferred without securing top mangers’ consent. Stada is not amenable to the idea of a potential takeover.
Pfizer Inc. is planning to diversify itself into the off-patent drug market. Stada derives around 65% of its revenues from outside of Germany. The drug maker has a strong presence in Eastern Europe. Teva Pharma (NASDAQ: TEVA) is also said to be interested in Stada.
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