Mexico Nixes Pfizer-Nestlé Deal, Impax Partners with Perrigo: Healthcare Biz Review
Nestle’s (NSRGY.PK) proposed acquisition of Pfizer’s (NYSE:PFE) baby foods division in Mexico has been nixed by regulators there as it would become too large in terms of market share in that country. Prior to this, Nestlé topped Danone’s (DANOY.PK) offer of nearly $12 billion for the unit. However, it has been reckoned that should the deal with Pfizer goes through, somewhere between 71 and 88 per cent of the sector would be controlled by Nestlé.
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In a Wednesday press release, Impax Laboratories (NASDAQ:IPXL) said that it will partner with Perrigo Company (NASDAQ:PRGO) on the development, manufacturing and commercialization of an extended topical generic drug product possessing first-to-market potential. The product was not identified and the arrangement’s terms were not reported.