According to PR News Wire, Drug Major Pfizer is all set to acquire King Pharmaceuticals - a maker of pain medications. The cash deal is worth $3.6 billion.
Pfizer will pay $14.25 for each share of King Pharmaceuticals. This is 40% above the market price of King Pharma share price on Monday. Major brands promoted by King Pharmaceuticals include Avinza, Skelaxin, Embeda, EpiPen, and Levoxyl.
King Pharma markets its Branded Prescription Pharmaceutical Products primarily through a dedicated sales force of over 700 individuals through out the U.S., Canada and Puerto Rico. It also has a sales force of around 100 individuals which markets the Animal Health Products in the U.S, Europe, Canada, Latin America and Asia.
This strategic combination will allow Pfizer to leverage its existing commercial capabilities and expertise to create one of the leading broad portfolios for pain relief and management in the biopharmaceutical industry, offering both currently marketed opioid and non-opioid products, as well as a pipeline spanning stages of clinical development.
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King Pharmaceuticals, Inc - SWOT Analysis
King Pharmaceuticals, Inc. - Financial and Strategic Analysis Review
King Pharmaceuticals, Inc.