NEW YORK: Drug giant Pfizer Inc. on Thursday fired a sniper shot in the war for Warner-Lambert Co with an all-stock bid of about $ 82.4 billion, just hours after the drug company agreed to merge with rival American Home Products Corp for $72 billion in stock. Either deal would create the world's largest drug company.New York-based Pfizer, the No. 2 US drug company, said its proposed combination would create a company with revenues of $28 billion.
AmericanWarner, the proposed combination of Madison, NJ-based American Home and Morris Plains, NJ-based Warner-Lambert, would have $ 26 billion in annual sales.
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