Australian Pharmaceutical Industries (API) Stock Recommendation

Sigma Pharmaceutical (SIP) is bidding for Australian Pharmaceutical Industries (API), a pharmaceutical wholesaler. Sigma Pharmaceutical have announced a bid of $2.20 per share for Australian Pharmaceutical Industries but the market expects another bid as shares surge in API. Stock analyst, Macquarie Research Equities (MRE) said that "expect further bidding to continue, with the key question remaining how much one would pay." MRE expects to see further bidding to continue and likely to come from Symbion (SYB). "In view of potential merger synergies and the sale of the retail pharmacy business, it is feasible that it could be a lot higher than SIP's current $2.20 per share bid."

Australian Pharmaceutical Industries Limited is listed on the Australian Stock Exchange (ASX) under stock code API. You can view their investor website here. API was listed on the ASX on 16 June, 1997. The company is a wholesale distributor of pharmaceutical and allied products and retail support services to pharmacists. Find out the meaning of the recommendations in this primer. Browse for other stockbroker recommendations. Check your charts and good luck with your share trading!