Hit by the tsunami of recessionary economy causing sales to dip and growth rates forecasted to fall below historic levels, pharma drug companies have hit the panic button and are trying out different ways in their quest to survive. Mergers & Acquisitions Pfizer's acquisition of Wyeth for US$68 Billion is a striking example. The company has acted to safeguard itself, owing to the plummeting revenues from it's popular drug "Lipitor" and several other products, which would soon be faced with expired patent protection.
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