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Pfizer Inc, Novartis AG And Abbott Laboratories Weigh Bids For Brazil's Ache Laboratorios Farmaceuticos; GlaxoSmithKline plc Showed Early Interest-Reuters

Tuesday, 2 Apr 2013 03:15pm EDT 

Reuters reported that at least three of the world's top drugmakers are bidding for Brazil's Ache Laboratorios Farmaceuticos in an auction that may value the group at more than $5 billion. Pfizer Inc, Novartis AG and Abbott Laboratories are all weighing second-round bids to acquire the company. Bids are due in the second half of April. Privately owned Ache is attractive to drug companies looking to increase their footprint in the growing market of Latin America. GlaxoSmithKline Plc showed early interest but has dropped out of the running. 

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