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Efforts by Pfizer to acquire the German generic drug maker Ratiopharm have stepped-up, with the pharmaceutical giant pledging to invest in the company’s growth at a closed-doors meeting between the two firms.
Chief Executive Jeff Kindler and a string of top Pfizer managers travelled to the head-to-head, hosted at Ratiopharm’s base in Ulm, south Germany, keen to sweeten what analysts suggest could a £4-billion bid.
Sources say the meeting saw Pfizer promise to increase the production capacity of the company’s European generics business.
“Pfizer promised investment,” one source told Reuters.
Pfizer and Ratiopharm, which is being sold by the family of late German billionaire Adolf Merckle to repay creditors, declined to comment.
Copyright Press Association 2010
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