Pfizer Going For Generic Crown: Report

Updated from Tuesday, March 2

NEW YORK ( TheStreet) -- Drug giant Pfizer ( PFE), the world's biggest drug-maker, may be getting bigger. Pfizer is reportedly bidding more than $4 billion to acquire German generic drug firm Ratiopharm.

The Pfizer bid, first reported by Bloomberg on Tuesday afternoon, would be the biggest generic drug deal since Teva Pharmaceutical Industries ( TEVA) bought Barr Pharmaceuticals in 2008 for $7.4 billion.

If Pfizer is successful, its generic business would rise to an estimated $11 billion, nearing Teva's lead position in the generic market, according to the Bloomberg report.

Teva is not planning to allow Pfizer to match its generic drug-buying prowess so easily, and is also bidding for the German generic drug maker, which is owned by the Merckle family.

Iceland-based Actavis Group is also reportedly among Ratiopharm's suitors.

Given the number of suitors for the German drug maker -- being sold by the Merckle family as a way to repay debt -- Pfizer is reportedly going to make its case to Ratiopharm's management as soon as this week, Bloomberg reports.

-- Reported by Eric Rosenbaum in New York.

>>See our new stock quote page.

Follow TheStreet.com on Twitter and become a fan on Facebook.

Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

More from Stocks

Danica Patrick's Final Race at 2018 Indianapolis 500: What She Thinks About Cars

Danica Patrick's Final Race at 2018 Indianapolis 500: What She Thinks About Cars

Why The FANG Stocks' Dominance May Not Be So Bad For The Market

Why The FANG Stocks' Dominance May Not Be So Bad For The Market

At End of May, Investors Signalling They May Stay Away

At End of May, Investors Signalling They May Stay Away

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Neel Kashkari: The Heart of Our Financial System Is More Radioactive Than Ever

Neel Kashkari: The Heart of Our Financial System Is More Radioactive Than Ever