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When it pays to sell

26 Jun 2006 By Robert Cyran

The US group is paying an eyewatering 25 times operating profits for Pfizer’s consumer drugs division more than recent sector deals. J&J reckons it can deliver up to $600m of synergies. Those could be worth about $5.5bn not enough to justify this premium. J&J reckons it can deliver up to $600m in synergies. These could be worth up to $4.2bn not enough to justify the premium.

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