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Home Industry News Bristol-Myers Squibb predicted by some be next taken over

Bristol-Myers Squibb predicted by some be next taken over

17th March 2009

Bristol-Myers Squibb is the most likely company in its field to be taken over in the near future, according to one forecaster.

The Zack’s Analyst blogger explained the rapidly changing face of the pharmaceutical sector due to mergers had not been surprising.

Since the beginning of the year, Pfizer has acquired Wyeth, Merck announced plans to buy Schering-Plough and Roche merged with Genetech.

The analyst cited patent expirations, depressed equity values, fewer new drug approvals and increased competition as all factors forcing the sector to act in this way.

He commented: “With a number of major pharmaceutical companies facing significant challenges to grow revenue in the near-to-medium term, we expect the deal-making to continue in 2009.”

Included in the blogger’s shortlist for possible firms facing being bought were Sanofi-Aventis and AstraZenca. However, he concluded Bristol-Myers Squibb is the most likely candidate.

Bristol-Myers Squibb will present at the Cowen and Company 29th Annual health Care Conference today. The general public can access a live webcast of the company’s senior vice-president Brian Daniels’ speech on the company’s investor website.

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