Pfizer is making a $3.6 billion bid to snatch up King Pharmaceuticals. Pfizer is facing the patent expiration of Lipitor and needs to replace the revenue stream. King’s portfolio of pain medications is a very tempting morsel for Pfizer.
King is in the process of developing a tamper-resistant, long-acting oxycodone. In the deal, Pfizer will also get Embeda (long-acting morphine), Skelaxin (muscle relaxant), Avinza (extended release morphine) and Flector (a trans-dermal pain medication).
What remains to be seen is the ongoing success of Pfizer’s fundamental strategy – growth by acquisition. Pfizer’s great at buying companies, but struggles with digesting the meal.
