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Pharmaceutical heavyweight Pfizer is mulling buying a large drug company to improve its financial health, bucking the trend among its peers, which have turned against the "mega-mergers" of the past, the Financial Times reported on its Web site.
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"The real goal is to grow revenues...We are open to opportunities and constantly looking at those which are big, small and in-between," Jeff Kindler, Pfizer [PFE
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] chief executive, told the FT.
Such a move could trigger a fresh round of mergers within the sector, as pharmaceuticals, unlike other sectors, still have cash reserves to fund big deals and Pfizer's rivals are looking at the company before making a move towards consolidation, the paper wrote.
"We are always open to opportunities to enhance licensing, alliances and acquisitions, but whatever we do—small or large—has to meet the criteria of shareholder value," Kindler said.
Investors have said that Pfizer could strengthen its expansion into biological medicines by purchasing Amgen, the largest independent US biotech company, which has developed a range of promising medicines.
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