Sunday, January 25, 2009

Pfizer and Wyeth

The New York Times reports that pharmaceutical giant Pfizer plans to buy Wyeth for an estimated $68 billion which may spark a drug consolidation trend.

Clearly, the pharmaceutical industry may be the only one that doesn't require a bailout!

(The funds behind Pfizer's bid are being provided by four banks that received federal, or taxpayer, bailout money: Goldman Sachs, JPMorgan Chase, Citigroup and Bank of America)