Source: Wall Street Journal Market Watch
Wow! Who saw this one coming?<Raises hand emphatically>
The SEC (That’s Securities and Exchange Commission) which regulates trade is “investigating” deals made by and among Big Pharma, Inc., including Pfizer’s takeover of Wyeth and Merck’s acquisition deal with Shering-Plough. Then, there’s Abbott’s pick up of Advanced Medical Optics and Eli Lilly’s purchase of ImClone…Oh how the list goes on.
Investigations are aimed at better understanding, “[H]ow people meet and communicate with one another among banks on on the floors of the stock exchange. The “people” in this case being pharmaceutical corporations and their envoys.
Not surprisingly, Pfizer, Merck, Abbott and Lilly declined comment. <Whistles and walks away>
~Posted by David Marc Schwadron, Esquire