UK/US: Doubts over Pfizer mega-merger as pay-for-delay suit settles

UK-based pharmaceutical firm AstraZeneca denied recent reports that the company was in talks to possible be acquired by US rival Pfizer, a deal experts valued at $101 billion – one of the largest-ever for the industry.

According to one source, Pfizer had made numerous informal merger advances to the UK firm. Reports placed one of those offers at about $101 billion, a deal that would surpass Pfizer’s largest buyout to date, its $90 billion acquisition of Warner-Lambert.

While earlier reports noted that AstraZeneca had dismissed the buyout offers, some experts predict a potential deal could emerge in the future. But additional sources say the companies are not in merger talks as of now.

Meanwhile, reports say Pfizer has agreed to settle a class action pay-for-delay lawsuit with a $190 million offer.

According to court documents filed Monday, the company was accused of paying the generic maker of its epilepsy drug Neurontin to keep the cheaper competitor off pharmaceutical shelves, an agreement known as pay-for-delay.

The lawsuit was filed in 2002.

Full Content: Reuters

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