Pfizer Limited receives investment offer

Pfizer Limited’s subsidiary, Pfizer Investments, has proposed to increase its stake in the former from 41.23 per cent to 75 per cent.

The tender offer to acquire a further 33.7 per cent proportion of the firm from pubic shareholders is to purchase each share for 675 Indian rupees (8.75 pounds).

Subject to regulatory approval, the total value of the proposition is up to 6.8 billion rupees.

Last week, Pfizer announced that Dr Martine J George will be appointed as president of medical affairs for its oncology business unit.

As part of her new role, she will be responsible for dealing with external relationships with cancer agencies and specialists worldwide.

With around 20 years of experience in the pharmaceutical business, Dr George most recently held the position of senior vice-president of drug development and chief medical officer at GPC Biotech.

Dr Mace L Rothenberg from Pfizer asserted the company is looking forward to welcoming its latest addition to the team and the contributions she will make in helping bring new medicines to patients.