The suit filed by various pharmacies to block the Pfizer-Wyeth merger is probably a non-starter. Europe already approved the deal; the region is generally stricter than the U.S.'s FTC.
But the suit is worth reading if you want to put in context the sheer size of the merger. It also delineates a faux conflict between the forces of capitalism (pharmacies) and socialism (drug companies): The pharmacies want to deal with a large number of small competitors, all squabbling for market share; the drug companies want to take advantage of a $22.5 billion government bailout in order to dominate the market like an East German automaker.
Bonus moment: The lawyers didn't get the name of Pfizer CEO Jeff Kindler right! (Click to enlarge.)
- Banks who took TARP bailout cash:
- Bank of America/Citigroup: $85 billion.
- Goldman Sachs/JP Morgan Chase: $35 billion.
- Market share:
- Pfizer: 26%
- Wyeth: 12%
- Pfizer, Wyeth
- Zoloft, Effexor
- Zyvox, Tygacil
- Sutent, Torisel
Hat tip to Shearlings Got Plowed.