From Acquisitions Monthly
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.
There are no talks so far, and what form a potential tie-up would take is not yet known.
Only last month the president of Pfizer’s emerging markets business unit revealed that the drugs company was considering new acquisitions.
“We see opportunities coming from the financial crisis… opportunities to build partnerships in emerging markets,”
Jean-Michel Haldon told Reuters in June. He did not give further details at the time, but under the stewardship of chairman and chief executive Jeff Kindler, Pfizer wants to add $3 billion in annual revenue by 2012 from emerging markets, which include China, Brazil and Turkey.