Sanofi-Aventis has called off talks with Bristol-Myers Squibb over a deal to create the world’s biggest pharmaceutical group because of disagreements over price and legal disputes around its top-selling drug, The Times has learnt.
An acquisition would have created a drugs giant with a market value of $175 billion (£89.4 billion) and revenue of $56 billion, outstripping the market leader, Pfizer.
However, it is understood that Sanofi was not comfortable with the valuation of BMS with a share price of around $28.
An acquisition would have created a drugs giant with a market value of $175 billion (£89.4 billion) and revenue of $56 billion, outstripping the market leader, Pfizer.
However, it is understood that Sanofi was not comfortable with the valuation of BMS with a share price of around $28.
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