Pfizer Ltd enters into acquisition agreement with AstraZeneca

Pharma major Pfizer Ltd has entered into acquisition agreement with AstraZeneca AB, Sweden.

May 31, 2017 05:05 IST India Infoline News Service

Pharma major Pfizer Ltd has entered into acquisition agreement with AstraZeneca AB, Sweden pursuant to which the brand “Neksium” is being acquired by the company in India.

The consideration amounted to Rs 75 crores, subject to completion of necessary conditions.

Neksium complements the company’s existing product portfolio in the gastrointestinal (GI) therapeutic area.

The stock ended on positive territory on BSE gaining over 3% at Rs 1697.95 per share on today’s trade

Pfizer Inc. (Pfizer), incorporated on June 2, 1942, is a research-based global biopharmaceutical company. The Company is engaged in the discovery, development and manufacture of healthcare products. Its global portfolio includes medicines and vaccines, as well as consumer healthcare products. 
 
Stock view:

The scrip opened at Rs 1653.05 and has touched a high and low of Rs 1698 and Rs 1648.05 respectively. So far 29421(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 7536.48 crore.
 
The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 2055 on 09-Sep-2016 and a 52 week low of Rs 1641 on 30-May-2017. Last one week high and low of the scrip stood at Rs 1706.3 and Rs 1641 respectively.
 
The promoters holding in the company stood at 63.92 % while Institutions and Non-Institutions held 13.42 % and 22.66 % respectively.

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