Pfizer to Get Benefitted from Takeover of GlaxoSmithKline, Deutsche Bank States
Published By : 20 May 2015 | Published By : QYRESEARCH
Pfizer Inc. would get advantages from a takeover of the U.K.-based rival GlaxoSmithKline Plc., an analyst of Deutsche Bank AG wrote in a release to customers, named ‘Introducing PfizerKline.’
A GlaxoSmithKline acquisition would be significantly accretive to income, Mr. Gregg Gilbert, an analyst of Deutsche Bank based in New York, wrote in the publication on Wednesday, May 20, 2015. Such a transaction would also permit Pfizer to get access to its balance sheet and enhance its tax situation, he stated. Pfizer has not announced the takeover bid for the London-based Glaxo, or specified an interest.
The Chief Executive Officer of Pfizer, Mr. Ian Read has signaled that he is hungry for the transactions that can fuel the sales of the biggest drug-maker in the U.S. He has looked across the Atlantic previous to this, around a year ago, the New York-based Pfizer discarded a bid to purchase the London-based AstraZeneca Plc. for a whopping sum of US$117 billion in what would have been the biggest-ever acquisition of this industry. Mr. Andrew Widger, the spokesman for Pfizer, has declined to comment on the report published by Deutsche Bank, as did the Glaxo spokesman, Mr. Simon Steel.
Mr. Gilbert wrote that they believe that the company has a sense of necessity to create value by pulling the power of its balance sheet to do the needle-moving deals. Since the media reports in the previous times have pointed to the potential for a GSK/Pfizer combination, they are analyzing that theme.