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Aug. 22 (Bloomberg) -- Seven California pharmacies sued to block drugmaker Pfizer Inc.’s proposed $68 billion buyout of rival Wyeth, claiming it relies on government bailout money from banks financing the deal and will drive up drug prices.
The acquisition will eliminate competition for certain drugs, lead to fewer supplier choices for pharmacies, push up prices for medicines and result in 22,000 job cuts, according to a complaint filed yesterday in federal court in San Francisco.
Four of the five banks providing $22.5 billion in loans to finance the buyout have received Troubled Asset Relief Program funds, the pharmacies say. Government bailout money shouldn’t be used to finance job losses, according to the complaint.
New York-based Pfizer, the world’s biggest drugmaker, agreed in January to acquire Wyeth. Shareholders of Madison, New Jersey-based Wyeth voted in favor of the deal. Pfizer has said the transaction may be completed by the end of this quarter.
Pfizer hasn’t yet been served with the lawsuit and believes it’s without merit, Joan Campion, a Pfizer spokeswoman, said in a telephone interview.
The lawsuit was brought by Golden Gate Pharmacy, a locally owned veterinary pharmacy in San Rafael, California; Marin Apothecaries, a locally owned drug store in Larkspur, California; two other stores and three pharmacists.
The case is Golden Gate Pharmacy Services v. Pfizer, 09-3854, U.S. District Court, Northern District of California (San Francisco).
http://www.bloomberg.com/apps/news?pid=20601087&sid=a6_OPmE_owuc
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作者:admin@医学,生命科学 2010-11-04 05:11
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