AUSTRALIAN WHOLESALER MERGER TALKS OFF
After 12 months of bitter negotiations, merger talks between three Australian pharmaceutical wholesalers - QDL Ltd, Australian Pharmaceutical Industries and Sigma Ltd - have broken down, opening up the likelihood of another price war in the sector.
The three had hoped to form a national company which could be listed on the stock exchange, and represent a substantial competitive force to F H Faulding. The merger talks failed as the companies could not reach agreement on points such as composition of the board, capital gains tax and goodwill associated with API's and Sigma's cooperative status.
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