Pfizer and AstraZeneca: Are These Dinosaurs Mating?

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April 28 (Bloomberg) -- Odile Rundquist, senior pharmaceutical analyst at Helvea-Baader Bank, and Bloomberg’s Phil Serafino examine Pfizer’s renewed interest in AstraZeneca and what the deal would mean for the pharmaceutical industry on Bloomberg Television’s “Bloomberg Surveillance.”

By pfizer?

Good morning.

We will see.

It is going to be edited to see what astrazeneca will say about that.

In the short term, they have declining sales growth.

They have an oncology pipeline with some of the most exciting targets.

It that is why pfizer is so interested.

There is a more efficient structure.

They made note of the lack of revenue growth.

Let me be blunt.

I will use an american phrase, are these dinosaurs mating?

Astrazeneca is very interesting.

Both in the short term, these companies have declining sales growth.

In a way, that does not make it so attractive at first view.

Obviously, what you want is growth and profit going forward.

Pfizer is a company that has had a lot of acquisitions.

They gave some good return to shareholders.

We are also joined by geneva.

You can read his article on

There were originally negotiations in january and fell apart.

Now it is april and it is back of the table.

What changed?

That is hard to figure out at this point.

Pfizer seemed to have walked away.

When word leaked about that approach last week, astrazeneca went up.

Pfizer light the feedback that they got from the market reaction about this with the time to come back.

Investors are warming to the idea that north of 46, it is unclear what it would take to get the deal done.

Pfizer saw that it had an opportunity.

This is a massive number.

It is like going out and paying cash for all of boeing or all of mcdonald's. how will they pay for this?

One thing they said as they're going to pay with cash and stock.

They are going to headquarter the company in the u k. that will bring tax benefits to them.

It is unclear how the u.s. government would react to that.

Pfizer has a ton of cash overseas.

They can argue that they will get tax benefits from this deal down the road.

It will be a situation where the headquarters will be based in the u k but the headquarters will be in new york.

Give us the last word from geneva.

When we look this morning and another pharmaceutical deal, it does this say about the entire industry?

Why are we seeing $200 billion plus of potential mergers?

What we see is that companies want to bolster their business in which they have attractive business models and they want to seek other businesses.

It is a we have seen with other companies.

Let's leave it there.

Thank you so much.

Thanks for reporting from the paris news bureau this morning.

Our guest host is jonathan.

When he woke up this morning, what does that say about the market?

The most important thing we have been missing is ceo confidence.

That is reflected in m&a activity.

I am looking at this is a big positive.

In health care, there are different dynamics.

You talked about the lack of a

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