Copycats - The Only Cats Who Know Where AstraZeneca's At

Everyone wants to be a copycat these days. That's why UK-listed healthcare giant AstraZ is taking steps to guard against generic drug makers stealing its pharma-making thunder. It is agreed with Teva a deal that will stop Teva selling copycat versions of heartburn drug Nexium, at least for now. The Nexium patent ceases-to-be in 2014.

Treasury Orders Probe into Banks and Outrageous use of Bailout Money

The Treasury has ordered an inquiry into how banks are managed, Chancellor Alistair Darling has stated. Gordon Brown insisted Thursday that there should be "no reward for failure".

RBS, bailed out by £20bn by the government last year, will pay up to £1bn in bonuses to its 177,000 staff.

In Asia, Nomura has opened and equity sales, trading and investment banking office in India, which is becoming increasingly important for Japanese companies. For example, Nomura advised Daiichi Sankyo acquired generic drugs maker Ranbaxy in 2008.

Ranbaxy started its research program in the late 1970s.

restructuring( X,2009 ) ? X = _GSK.

X=Pharma giant GSK

1. headcount(_GSK, _Global, Current, Future). ? Current=100,000, Future=?.
2. headcount(_GSK, _UK, Current, Future).? Current=18,000 Future =?
3. per_sales(_GSK, _UK, X). ? X=0.1
4. brands(_GSK, X). ? X=_Horlicks, X=_Lucozade, X=_Panadol
5. competitors(_GSK, X). ? X = GenericDrugMakers.
6. yrs_exist(_GSK, X). ? X ~ 300.
7. former_names(_GSK, X). ? X = _PloughCourtPharmacy, X=_Beecham, X=_SKB.
8. business(_Beecham, Y). ? Y = laxatives
9. merge( SKB, GlaxoWellcome. 2000).

Friends Down, Pfizer eats Wyeth, Steel down 50% since Sep08

The Sales for Friends Provident (the UK pensions and insurance tout) were down 27%, but only down 4% in the fourth quarter. Current CEO Trevor Matthews (formerly with Standard Life) joined as CEO in July 2008. It is interesting to understand the origins of Friends Provident. Friends was founded in Bradford in 1832 and has Quaker origins (Samuel Tuke and Joseph Rowntree). Their aim was "to provide the security of life assurance" to Quakers and their families. 45 friends put up an initial £10,700 Guarantee Bond. The company demutualised in 2001, with a big IPO advertising campaign entitled "You're better off with Friends". Its debt issuer credit rating is BBB (good). 

Pfizer, the world's biggest pharmaceutical company, is expected to conduct a blockbuster takeover of US rival Wyeth for between $65bn and $70bn (editor: deal closed at $68bn). 

Pfizer, being advised by Merrill Lynch and Goldman Sachs, is under pressure from investors to replace >$12bn revenues the company may lose in three years (that's an average $4bn a year) when Lipitor, the cholesterol pill and best-selling medicine in history, faces competition from generic drug makers (the patent expires in November 2011). 

Wyeth is being advised by MS and Evercore Partners (based in East 52nd Street, New York). Pfizer's R&D investment is impressive; at Sandwich, Kent, over 2000 drug-searching scientists are employed. The transaction consisted of cash, debt and stock. 

Corus, the largest steelmaker in the UK and a subsidiary of Tata Steel, is expected to announce the loss of 3,500 jobs as demand falls from carmakers and the construction industry. Steel prices have dropped 50% since September. Steel derivatives on the LME offer risk management for the steel industry. Hot places to trade steel derivatives include the LME, CME, Shanghai Futures Exchage, India and Dubai. 

India is the world's fifth largest steel maker, China is the largest.

Big Pharma Strikes! Biotech M&A up nearly 90%!

Deal value of biotech acquistions by Big Pharma is up almost 90% for 2008.

Biggest proposed deal thus far is Switzerland's Roche's $44m bid for Genentech, the San Francisco oncology-focused lab, of which it already owns a controlling share.

Drugs are a multi-billion dollar business. World's best-selling drug Lipitor, from Pfizer, generated $8.1 billion in sales in 2007. Lipitor is cholesterol-lowering medication.

Earlier this year, Daiichi Sankyo took over Malvinder Singh's Ranbaxy in a cash-deal worth $4.6bn. Ranbaxy is known for challenging the patents of pharmaceutical companies and pioneering the generic drugs industry.