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    Home > Medical News > Medical World News > U.S. drug giant Pfizer to buy Coley Pharmaceuticals for $164 million

    U.S. drug giant Pfizer to buy Coley Pharmaceuticals for $164 million

    • Last Update: 2020-07-07
    • Source: Internet
    • Author: User
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    On Saturday, U.Spharmaceutical giant Pfizer Incannounced it would buy biotech pharmaceutical company Coley Pharmaceuticals Group for about $164 million to boost Pfizer's research and development capabilities in vaccines and other areasAccording to Pfizer, the company has made a cash offer to buy all of Coley's outstanding shares at $8 a shareShareholders, who currently own about 27 per cent of Coley, have reached an agreement with Pfizer to accept the offerHowever, the completion of the transaction process requires some process and the full acquisition is expected to be completed next yearPfizer officials said the acquisition is an important part of Pfizer's vaccine strategy, the company will have the strength to study more new infections
    diseases
    , cancer and other vaccinesIt is understood that Coley is a U.Scompany specializing in vaccine-assisted technology and a range of candidate drug research, and has previously developed research and development partnership searly with Pfizer, which develops drugs that focus on cancer, allergies, asthma and autoimmunediseasesPfizer is understood to have said it would buy Powder Med, a private British vaccine developer, a month before it said it would buy itPfizer officials have said that although the acquisition does not currently involve the Chinese market, because Chinese many of the industry recognized as the most promising areas, Pfizer is likely to enter the Chinese vaccine market in the futurePublic data show that the global vaccine market is expected to double to about $20 billion by 2009, prompting many pharmaceutical giants to enter the fieldThis year, Pfizer, Novartis and other international pharmaceutical giants have launched a vaccine business, breaking the original GlaxoSmithKline, Avant, Merck and Wyeth Pharmaceuticals four companies to the vaccine market monopoly(Reporter Zhang Xiaoxuan)
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