2014年11月17日讯 /生物谷BIOON/ --生物医药领域的发展一向是瞬息万变，今天的竞争对手在明天可能就会成为联手开拓市场的盟友。
最近阿斯利康公司和辉瑞公司再一次进入了产业界和金融界的视线，因为有消息称，辉瑞公司有可能重新报价再次准备收购阿斯利康公司。这一消息在生物医药产业中又激起轩然大波。
不过一些业内评论人士确认为这一消息的真实性可能有待商榷。这一看法并不是妄谈，一方面是在这么短的时间内，辉瑞公司不太可能会重新提出一项足够吸引阿斯利康公司的收购报价。
另一方面是来自英美两国政府的阻力。第一，英国政府出于保护本国医药产业和工作岗位的考虑一定会对这一提案慎之又慎；其次，今年掀起的收购兼并案大部分是美国生物医药公司出于避税考虑收购欧洲公司，变更自己的公司注册地点。这一做法无疑使损害了美国政府的财政利益。奥巴马曾在国会专门对这一做法提出批评，而美国财政部也迅速针对这一问题制定严厉的管理政策，这一政策甚至直接导致了艾伯维和Shire价值550亿美元的收购案胎死腹中。甚至有人认为辉瑞重新报价的可能性仅在20%-30%之间。
不过，生物医药产业从来不缺少八卦。根据国外媒体的报道，或许辉瑞公司将会选择另外一家公司--爱尔兰的Actavis公司延续自己的收购计划。在这一政策背景下，或许Actavis公司是一个更好的选择。
不过，Actavis公司也并不是软柿子。Actavis公司最近也有自己的收购计划。上周有消息称Actavis公司已经接近和Allergan公司达成兼并重组协议，如果这一消息属实，辉瑞公司的收购之路或增添更多变数。
详细英文报道：
With Pfizer's ($PFE) eligibility to bid again for AstraZeneca ($AZN) nearing, the drug giant seems unlikely to make another run at its one-time target, industry-watchers say. But that doesn't mean it isn't prepping a run at someone else.
As Nov. 26--the day it can pick up where it left off in its pursuit of AZ, as per U.K. takeover rules--approaches, Pfizer has been going through its takeover options with a U.S. investment bank, Reuters' sources say. And that includes a long, hard look at the benefits of a tax-saving deal to buy Dublin drugmaker Actavis ($ACT).
New, stricter U.S. tax rules have made it less desirable for American companies to complete tax inversion deals--see: the $55 billion AbbVie ($ABBV)-Shire ($SHPG) deal collapse. But "the truth is that Pfizer has never stopped looking at targets inEurope after the AstraZeneca debacle," one banker told the news service. And the fact that "the hurdles are now getting bigger and bigger" for an AZ merger makes Actavis more attractive, despite the fact that a Pfizer-Actavis combo doesn't hold the same synergies and oncology opportunities that an AZ tie-up might.
But the Irish pharma may have some pickup plans of its own. As Bloombergreported this week, Actavis could play the white knight role in ongoing hostile bid saga between Allergan ($AGN) and predator Valeant ($VRX). While there's about a $3 billion gap between the price Allergan wants and the price Actavis wants to pay, the news service's sources say a deal could still happen in as little as two weeks' time.
Of course, there's still the possibility that Pfizer could come back again for its former takeover interest, though Norbert Janisch, portfolio manager at Raiffeisen Capital Management in Vienna, told Reuters he would not put the probability of a new bid for AZ at more than a 20% to 30% probability.
If it did so, "I am pretty sure that no one at AstraZeneca is ready to agree a friendly deal," one banker told the news service. But analysts don't see AZ's board coming to the table for less than ?60 per share, Reuters notes, and Pfizer's "final" offer last May tallied ?55 per share.