Pfizer considers purchase of India's Agila Specialties-report

Mon Jan 14, 2013 2:36pm EST

Jan 14 (Reuters) - Pfizer Inc is considering buying India's Agila Specialties, the injectable-medicines unit of Indian drug supplier Strides Arcolab Ltd, for a possible price of $2 billion, Bloomberg reported on Monday.

Pfizer is doing due diligence and a deal could be reached this quarter, Bloomberg reported, citing unnamed sources.

A Pfizer spokeswoman said the company does not comment on market rumors or speculation.

Agila makes cancer treatments and antibiotics, Bloomberg said.

Pfizer shares were up 23 cents at $26.75 on the New York Stock Exchange.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.