BERGEN BRUNSWIG'S MIGRAINE
To Bergen Brunswig, it seemed a smart move: Buy a drugmaker to gain a captive source of lucrative products. But when the $9.9 billion drug wholesaler proposed on Nov. 12 to merge with ailing Ivax, the U.S.'s biggest generic drugmaker, Bergen's shares fell 12.6%, to 27 5/8, though they bounced back a bit the next day. Reasons for doubt: Ivax lost $179 million on sharply lower revenues of $223 million in the third quarter. Analysts also wonder if Bergen can retain Ivax competitors as customers.
EDITED BY THANE PETERSON
Updated June 14, 1997 by bwwebmaster
Copyright 1996, Bloomberg L.P.