Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 33 n° 335

Proposed AstraZeneca Megamerger a “Complementary Fit” with Pfizer Thanks to Potential Pipeline Gains, says GlobalData

Posted by fidest press agency su giovedì, 15 Maggio 2014

londonLONDON, UK (GlobalData) As Pfizer’s potential takeover of AstraZeneca looms closer, the success in its bid for consolidation with AstraZeneca would result in promising pipeline gains and more than solidify its position as the world’s largest pharmaceutical company, at a time when Swiss giants Novartis and F. Hoffman-La-Roche are closing in on its historical leadership, says research and consulting firm GlobalData.Joshua Owide, GlobalData’s Director of Healthcare Industry Dynamics, states that this deal would be unlike any other in Pfizer’s corporate evolution to date, as the majority of value involved in the merger attempt would come from Pfizer’s ability to nurture ongoing research and development (R&D) activities at AstraZeneca.GlobalData also believes that a Pfizer/AstraZeneca megamerger could create an R&D juggernaut, with aggregate expenditure of over $11 billion, surpassing current R&D spending leaders Novartis and Roche. Additionally, this consolidation would create a pipeline with overall projected sales of $10.8 billion in 2019.Owide says: “The proposed purchase of AstraZeneca appears to be a very complementary fit with Pfizer, especially given the latter’s plans to spin off some of the mature components of its prescription pharmaceutical business.“AstraZeneca’s expiring drugs would meld into Pfizer’s Established Products division, and the former’s promising pipeline would bolster the other two Pfizer business units, which focus on new medications and consumer health, making them prime candidates for divestment.”  Pfizer and AstraZeneca both have complementary areas in R&D, and a merger would give Pfizer a much larger oncology pipeline in particular, thanks to the fold-in of AstraZeneca’s late-stage, anti-cancer agents. These include moxetumomab, olaparib and tremelimumab, which is a candidate developed by Pfizer and licensed to MedImmune.Indeed, with Roche having launched its latest generation of oncology antibody therapies in 2013, AstraZeneca now boasts the most promising oncology pipeline in the industry, with projected 2019 revenues of $4.7 billion, ahead of Merck & Co. and Bristol-Myers Squibb. Furthermore, AstraZeneca is currently investigating compounds in 60 oncology indications across Phase I and Phase II trials, representing a significant strategic opportunity for Pfizer.Owide states that the implications of this are significant. The branded oncology market is forecast to grow by annual sales of $76.7 billion between 2013 and 2019, making it the largest disease market by a sizable margin and also the fastest-growing one, with a CAGR of 10.5%.He continues: “The potential gain that Pfizer could extract from AstraZeneca’s pipeline, in relation to other components of the combined business, shows that any value from its deal with AstraZeneca would be heavily tied to its ability to nurture the UK giant’s emerging pipeline.“Of course, such a deal would carry a high level of risk, and Pfizer will look to argue this point as it attempts to convince AstraZeneca’s management and shareholders to relinquish their control for a fair price,” Owide concludes.



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