(MENAFN) US-based drugmaker Pfizer is planning for an additional move for a potential USD100 billion takeover of UK's AstraZeneca after the latter rejected two previous bids, The Peninsula Qatar reported.
Pfizer announced that it made a USD98.9 billion bid approach to AstraZeneca early this year and contacted it again this month to further discuss a takeover.
Pfizer can expand its pipeline of cancer drugs and make significant savings on costs and taxes through AstraZeneca's takeover.
The US pharmaceutical giant's bid comes in a time where acquisitions and mergers are flamboyant in the sector, bringing the total value of deals to USD153 billion in the year-to-date.
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