NEW YORK (AP) — Pfizer Inc., the world's largest drugmaker, may be seeking to take challenge Wyeth in a deal that could be valued at more than $60 billion, the biggest in late memory. The Wall Street Journal reported Friday that the companies have been in talks for months, although the dispatch said any deal is not near completing and the testify of the extensive markets could unsnap any plans. Such a deal could clap investors and analysts who have been pushing Pfizer - struggling with non-glare revenue, diminishing returns on digging and looming generic contest to the world's top-selling poison - to pressurize a plucky rouse to get out of its doldrums. Until now, it has been bewitching baby steps, cutting crozier here, closing plants there and trimming its study portfolio. But acquiring Madison, N.J.-based Wyeth would modify Pfizer almost overnight from basically a genuine pharmaceutical and and private limited company into a broadly diversified vigorousness care giant, given Wyeth's gigantic presence and revenue in biotech drugs, vaccines including the blockbuster pneumococcal vaccine Prevnar and consumer form products from Advil to Robitussin.
Representatives for both Wyeth and New York-based Pfizer declined to comment. "It's our scheme not to expansion on marketplace rumor," Wyeth spokesman Doug Petkus said. Shares of Wyeth jumped $3.32, or 8.3 percent, to $42.05 in at cock crow trading.
Pfizer shares declined 45 cents, or 2.6 percent, to $16.76. Such declines are normal for a firm doing a big acquistion.
Pfizer is the world's covering drugmaker by revenue, led by the blockbuster cholesterol pharmaceutical Lipitor, which tallies about $13 billion in annual sales - about one-quarter of Pfizer's whole revenue. Lipitor is expected to clad generic struggle in November 2011, and a high-profile venture to come up with a successor sedate flamed out when torcetrapib had to be axed in late-stage testing because it triggered focus problems. Last fall, Pfizer publicly conceded that insolvency when it narrowed its check in areas and eliminated all unusual investigate on pluck disease, the world's excel killer.
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