NEW YORK (TheStreet) -- Shares of Pfizer (PFE) were gaining 0.4% to $34.06 in morning trading Friday following a report that the drug manufacturer is bidding for Swedish Orphan Biovitrum, better known as Sobi.
Pfizer is the company that Sobi didn't name when it recently disclosed that a potential buyer made a preliminary offer, according to Reuters. The negotiations are confidential and there is no word what price Pfizer would offer for the Swedish company.
Sobi creates medicines for rare or "orphan" diseases, and has a market value of 35.8 Swedish crowns (about $4.3 billion). Pfizer currently sells a hemophilia treatment called ReFactor AF that 's manufactured by Sobi.
During Pfizer's earnings call on Tuesday, CEO Ian Read said he was open to possible deals and was "agnostic" regarding the size of acquisitions, according to Reuters.
TheStreet Ratings team rates PFIZER INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate PFIZER INC (PFE) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, growth in earnings per share, expanding profit margins and increase in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."