For what it is worth, you will find below an announcement related to a so called regional deal... Why could this happen to AVX whilst they failed to convince any global pharma to get in bed with them ? I guess, just because it would be a much cheaper deal.
Cheers.
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Pfizer to Sell Swine Vaccine Biz in China to Harbin Pharma
M&A Navigator - Jun. 01, 2010
US drugmaker Pfizer (NYSE:PFE) will sell its swine vaccine operations in China to Harbin Pharmaceutical (SHA:600664) for USD50m (EUR40.7m), a source in the know told Reuters on Monday.
A spokeswoman for Pfizer confirmed the deal with Harbin, without revealing further details.
The Chinese company did not comment.
The sale was ordered by the Chinese antitrust authorities as a condition for the approval of Pfizer's merger with Wyeth last year.
Business Development Asia, Clifford Chance and King & Wood are acting as financial advisors to Pfizer in this transaction, the source said.
Reportedly, Novartis (VTX:NOVN), Eli Lilly (NYSE:LLY), Boehringer Ingelheim and Agenix (ASX:AGX) were also in the race for Pfizer's swine vaccine business.
Country: ; China
Sector: Pharmaceuticals
Target: swine vaccine operations
Buyer: Harbin Pharmaceutical Group Co Ltd
Vendor: Pfizer Inc
Deal size in USD: 50m
Type: Divestment
Status: Agreed
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