Pfizer Looking At Turkish drug company for Possible Acquisition

Turkey appears to be one of many targets that Pfizer may be eyeing and overall it appears interest in acquiring companies abroad in developing countries it picking up. BD

Pfizer, the world’s largest pharmaceuticals company, is lining up Turkey’s largest drugs company, Abdi Ibrahim, for a deal, according to an M&A banking source. What form a tie-up would take is not yet known, but only last month the president of Pfizer’s emerging market business unit revealed that the drugs company was considering new acquisitions.

Only last month the president of Pfizer’s emerging markets business unit revealed that the drugs company was considering new acquisitions. Pfizer wants to add $3 billion in annual revenue by 2012 from emerging markets, which include China, Brazil and Turkey.

“We see opportunities coming from the financial crisis… opportunities to build partnerships in emerging markets.

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