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Article: GENERIC DRUG COMPANIES RIPE FOR ACQUISITION.(BUSINESS)
- Article from:
- Albany Times Union (Albany, NY)
- Article date:
- October 12, 1993
CopyrightCOPYRIGHT 1993 Albany Times Union. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: MARIANN CAPRINO - Associated Press
Generic drug companies look like hot acquisition targets these days.
Hoechst Celanese Corp.'s weekend announcement that it would pay a startling $546 million for Copley Pharmaceutical Inc. is just part of the scramble ahead of health care reform. But it also illustrates one company's faith in the growth potential for cheap drugs.
Right now Copley's sales amount to about $85 million a year, though some analysts expect the figure to exceed $500 million by the end of the decade.
But as health care reform alters the marketplace, leading drug companies will be forced to lower prices of their ...