The Hindu : Boost to Pfizer's Indian arm

Online edition of India's National Newspaper
Wednesday, Jul 17, 2002

Business

Business

Boost to Pfizer's Indian arm

MUMBAI JULY 16. The proposed merger between the New York based Pfizer and Pharmacia would boost the market share, business turnover and product profile of Pfizer's Indian arm, analysts say.

The company will get hold of good pharma products in the area of ophthalmology and anti-cancer drugs and will have positive impact on its business in India, said a pharma analyst with a foreign broking firm.

Pfizer's market share in India would increase after the merger to make it the third largest pharma company in the country although, their combined sales would be far below than that of majors like Ranbaxy, Cipla and Dr. Reddy's Lab in the country, he said. Pfizer had on Monday agreed to buy Pharmacia for $60 billion in stock to create a global pharma giant with a global market share of about 11 per cent. The merger move could trigger further consolidation in the pharmaceutical industry worldwide, an expert said.

Pfizer has three companies in India Pfizer, Parke Davis and Warner Lambart India while, Pharmecia is represented by Pharmacia India, a closely held company and Abott Laboratories India. Post merger, the Pfizer-Pharmecia combine would have a market share of 4.58 per cent behind Ranbaxy and Dr. Reddy's Lab, he added. — UNI

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