Product details

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Abstract

From a humble beginning in 1849, Pfizer, the US based pharma company has grown with time into a familiar name in the pharmaceutical industry. Especially post 1950, acquisition had been a major aspect of the company’s growth strategy. By the end of 2011, as the spate of acquisitions kept its very tempo in the global pharmaceutical industry, Pfizer acquired Excaliard Pharmaceuticals, a privately-owned biopharmaceutical company. This acquisition enabled Pfizer to add a mid-stage candidate to combat skin scarring into its pipeline. While the financial details pertaining to the agreement were still awaited, Pfizer announced that Excaliard would get an upfront payment apart from getting contingent payments as and when it would be achieving certain milestones. Apart from the two main players striking the deal, ancillary players like Isis Pharma, an equity owner of Excaliard having an exclusive worldwide drug development and commercialisation license agreement was also expected to get a share of the upfront as well as milestone payments made to Excaliard. While both the companies would call it a win-win agreement, analysts had been apprehending a number of challenges while the players would be going out to reap benefits accruing through the acquisition. However, the juncture left business analysts with ample room for debate as to whether it was the challenge that dominated the opportunities or vice-versa.
Location:
Industry:
Other setting(s):
2011-2012

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Abstract

From a humble beginning in 1849, Pfizer, the US based pharma company has grown with time into a familiar name in the pharmaceutical industry. Especially post 1950, acquisition had been a major aspect of the company’s growth strategy. By the end of 2011, as the spate of acquisitions kept its very tempo in the global pharmaceutical industry, Pfizer acquired Excaliard Pharmaceuticals, a privately-owned biopharmaceutical company. This acquisition enabled Pfizer to add a mid-stage candidate to combat skin scarring into its pipeline. While the financial details pertaining to the agreement were still awaited, Pfizer announced that Excaliard would get an upfront payment apart from getting contingent payments as and when it would be achieving certain milestones. Apart from the two main players striking the deal, ancillary players like Isis Pharma, an equity owner of Excaliard having an exclusive worldwide drug development and commercialisation license agreement was also expected to get a share of the upfront as well as milestone payments made to Excaliard. While both the companies would call it a win-win agreement, analysts had been apprehending a number of challenges while the players would be going out to reap benefits accruing through the acquisition. However, the juncture left business analysts with ample room for debate as to whether it was the challenge that dominated the opportunities or vice-versa.

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Location:
Industry:
Other setting(s):
2011-2012

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