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Pfizer lays a chunky bid on Wyeth
The merger of two pharma giants is the largest industry deal so far this year. Pfizer will acquire Wyeth in a cash-and-stock transaction currently valued at approximately $68 billion. The Boards of Directors of both companies have said yes to the deal that may lead to lay-offs of some 8,000 persons.
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Biotage is regrouping
The Swedish company Biotage takes yet another step in streamlining efforts, by outsourcing all instrument production to contract manufacturers.
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Vitrolife wants to acquire Medicult
The Swedish company Vitrolife intends to make en exchange offer to the shareholders of the Danish company Medicult to acquire all outstanding shares in the company.
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Time to save for survival
The future is bright for the biotech industry. However, the companies need to cut costs immediately if they want to survive the rough economic times.
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