Pfizer has reached an agreement to buy drugmaker King Pharmaceuticals for $3.6 billion. The pharmaceutical group's goal is to boost revenues to cushion the impact of patent expirations on some of its main drugs. Pfizer will pay King Pharma $14.25 a share, equal to a premium of 40% on Monday's close.
Il sole 24 Ore – 13 October 2010 – pag. 42
King Pharmaceuticals, founded in 1994, is a basic research pharmaceutical company that develops, manufactures, markets and sells prescription pharmaceuticals and animal health products. THE revenues grew from $ $13 million in 1994 to over $1.78 billion in 2009. King's workforce has grown from an initial 145 to more than 2,700 employees, of which 1,000 make up the outside operations force. It is based in Bristol, Tennessee
Brian A. Markison Chairman, President and Chief Executive Officer. In 2008, he received a salary of $8.6 million.
Jeff Kindler, CEO of Pfizer. In 2008 he received a salary of 14,788,302 $
