Release date: 2015-11-03
Pfizer, a US pharmaceutical giant, and Aier, a peer in the industry, confirmed on Thursday that it is in the process of preliminary mergers and mergers. If approved by the regulatory authorities, it will become the No. 1 in the US, with a market capitalization exceeding that of Johnson & Johnson.
The current healthcare industry is experiencing a wave of large-scale consolidation. This is the operation of capitalism. However, the CNNMoney report questioned whether the consolidation trend in this area will evolve to a very small number of companies that control the drugs used by the general public, control the retail channels of purchase, control hospital clinics, and even control the medical insurance providers who pay for accounting.
US pharmaceutical giant Pfizer and peer Aerjian (Allergan, Taiwan translation: Ailigen) confirmed on Thursday that the merger was preliminary. According to the Financial Times, the industry's Allergan confirmed on Thursday that it was in the process of merging with Pfizer.
Pfizer, the second-largest pharmaceutical company in the United States, currently has a market capitalization of about $218 billion, while Ayr has a market capitalization of about $113 billion. If the two merge, the market value will beat Johnson & Johnson, the world's largest health care industry, with a market capitalization of about $277 billion.
At the same time, this merger will also make the common heavyweight drugs in the name of a company, such as Pylay's Lyrica for neuropathic pain, Enbrel for treating rheumatoid arthritis, Viagra, etc. Its Botox (botulinum botulinum) and Restasis for the treatment of dry eye.
Pfizer and Alley are allied and may wish to lower corporate tax rates. Aer's headquarters is located in Dublin, Ireland, and the local corporate tax rate is much lower than that of the United States. Pfizer CEO Ian Read has said that Pfizer's tax rate in the US is much higher than that of overseas rivals, putting it at a competitive disadvantage.
In fact, Pfizer and Ayr built a few months before the merger, and the two sides also completed billions of dollars in M&A transactions. Pfizer completed the acquisition of Hospira, which manufactures medical devices and injectable drugs, for $15 billion in September; Aier built Actavis, a generics company, for $70.5 billion in March.
Will most drug companies be absorbed by medical insurance giants or chain drug companies?
Walgreens, a chain drug bureau, recently announced that it will acquire Rite Aid for about $17.2 billion. With official approval, there will be only two chain drugstores in the US: Walgreens and CVS.
Walgreens' acquisition of Rite Aid will become a larger player in the Pharmacy Benefits Management (PBM) business. PBM operators are intermediaries between insurance companies, pharmaceutical companies and retailers.
Earlier this year, Rite Aid bought a PBM company called EnvisionRx for $2 billion. This will help Walgreens compete with CVS. In the past few years, CVS acquired the strong business of PBM when it acquired Caremark.
Earlier this year, CVS acquired another PBM company, Omnicare, for $13 billion. The latter specializes in drug services for the elderly living support center.
However, another larger PBM company, Catamaran, was acquired by the health insurance company UnitedHealth this summer for $13 billion. The former was received by the existing PBM company Optum Rx.
The remaining independent PBM Express s has always been Walgreen's acquisition target.
So, summarize this trend: Most companies that run consumer drugs may soon be included in the health care giant or two major drugstores.
Medical insurance industry or only three major players
In addition, there are mergers and acquisitions competition in the insurance industry. In early July, Aetna agreed to acquire Hamanna for $37 billion. A few weeks later, Cigna and Anthem agreed to buy $54 billion.
If the regulator approves the two mergers, there are only three major health insurance companies in the US market: Antai-Hamena, CIGNA-Anthem, and United Health Insurance.
Others such as HCA, Tenet, Universal Health Services, and Community Health Systems, the nation's largest non-profit hospitals, have also grown through acquisitions.
These trends will make consumers' choices for health care programs less and less. The report finally called for anti-monopoly officials, members of Congress, and even the next president to pay more attention to the development of this phenomenon.
Source: Sohu
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