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...He also served as chief executive of Pharmacia Corporation and was also a partner at Warburg Pincus from 2011 to 2017....
...The academics needed an industrial partner, but Mr Curstedt says that Pharmacia, a Swedish drugs company which has since become part of Pfizer, felt “the sales were too small and the marketing costs too...
...The sale of Meda risks a further hollowing out of Sweden’s pharmaceuticals sector, which in the past two decades has seen Pharmacia bought by Pfizer of the US and Astra merged with Zeneca of the UK....
...Three years later it acquired Pharmacia for $60bn then, in 2009, Wyeth for $68bn. More recently came Hospira for another $17bn....
...The sale of Meda risks a further hollowing out of Sweden’s pharmaceuticals sector, which in recent decades has seen Pharmacia bought by Pfizer of the US and Astra merged with Zeneca of the UK....
...Sweden has fretted about the erosion of its life science industry since the partial loss of Astra and the sale of Pharmacia to Pfizer in 2002, but AstraZeneca still employs about 5,900 people in the country...
...The fate of Pharmacia is at the centre of the debate in Sweden....
...It was very sad for us here in Sweden to see Pharmacia being extinguished in a couple of years due to mergers,” he added. The fate of Pharmacia is at the centre of the debate in Sweden....
...She also believes that Pfizer was less to blame over Pharmacia than some suggest....
...The company declined to comment on the Pharmacia deal....
...Pharmacia co-authored about 200 Swedish research papers each year through the 1990s....
...Pfizer has a history of big acquisitions, such as its $68bn takeover of Wyeth in 2009 and its $56bn deal with Pharmacia in 2002....
...He said the commitments offered by Pfizer “fly in the face of what they have done when they have acquired companies in the past”, pointing to job losses after takeovers of Pharmacia and Warner Lambert....
...Mr Borg had earlier criticised Pfizer’s behaviour after taking over Swedish group Pharmacia a decade ago....
...“There is its acquisition of Warner-Lambert in 2000 in the US; Pharmacia in Sweden in 2003; and Wyeth in the US in 2000, and that led to deep cuts in the research facilities, it led to intellectual asset-stripping...
...Two years later, Hank McKinnell, Mr Steere’s replacement, launched a $60bn takeover of Pharmacia, securing drugs including Celebrex, then part of a promising class of new painkillers....
...Since 2000, the company has spent more than $200bn on the acquisition of Warner-Lambert, Pharmacia and Wyeth. Yet, the deals have done little to improve the underlying trend....
...of 42 medicines approved by CDSCO officials and examined by the health committee, it said 11 had not involved mandatory late stage trials in patients, including drugs made by GlaxoSmithKline, Sanofi and Pharmacia...
...So has the independence of that country’s entire pharmaceutical sector, with Pharmacia absorbed by Pfizer of the US and Astra merged into AstraZeneca, based in the UK....
...Pfizer has led the consolidation, having become the world’s biggest drug company by swallowing up Warner Lambert, Pharmacia, Wyeth and others....
...Pfizer learned its lesson after its two other deals this decade, Warner-Lambert in 2000 and Pharmacia in 2003, gave it access to blockbusters but destroyed shareholder value (particularly the latter, which...
...Later, it expanded its presence by acquiring other companies, such as Warner Lambert, Pharmacia and, most recently, Wyeth – a champion of biological products such as the Prevnar vaccine – that had also had...
...Indeed, during the last downturn when M&A reached a seven-year low following the collapse of the dotcom boom, Lazard scooped up several mandates, including Pfizer’s $60bn acquisition of Pharmacia, the rival...
...AstraZeneca was created in a £52bn ($102bn) deal in 1999; GlaxoSmithKline from a £120bn deal in 2001 while Pfizer launched a $53bn takeover of Pharmacia in 2003....
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