PAG Fails To Create Euro Wholesale Group

2 January 1995

Frankfurt-based drug wholesale holding group PAG Pharma has failed to create a European cooperative grouping of drug wholesalers, according to PAG spokesman Christoph Kayenburg. He says this means that PAG, a listed company since 1990 and with its main asset a 36% stake in the Andreae-Noris Zahn (Anzag) company, now has to redesign its future.

Mr Kayenburg says a number of proposals are in the air as to how this financial holding company can continue to develop and acquisitions are not excluded. The attempt to set up a European group (Marketletters passim) failed when the move was resisted by two minority shareholders. The large, strategic shareholders, OPG, Sanacorp and Unichem, now want to go ahead with a cooperative venture outside the PAG framework.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK

More ones to watch >

Today's issue

Company Spotlight

Ironwood is a US-based biotech advancing a pipeline of medicines in multiple areas of significant unmet need, including irritable bowel syndrome with constipation ((IBS-C)/chronic idiopathic constipation (CIC), vascular and fibrotic diseases, and refractory gastroesophageal reflux disease, among others.