Pfizer (PFE), Amgen (AMGN) Duke it Out for Takeover of Cancer Drug Maker Biocad

Pfizer (NYSE: PFE) and Amgen (Nasdaq: AMRN) might be two of the last three bidders left standing in a fight to acquire St. Petersburg, Russia-based Biocad.

Bloomberg said that Biocad, which aims to make generic versions of some of the top-selling cancer medicines, might fetch anywhere between $750 million and $1 billion. William Blair is advising Biocad in the sales process.

Biocad is currently in recruitment to test copies of three of Roche's (OTCBB: RHHBY) best-selling cancer medicines: Rituxan, Herceptin and Avastin. The biotech also produces cancer chemotherapies and a multiple sclerosis medicine.

Russia's OAO Gazprombank took a controlling stake in Biocad in 2011, which then valued the company at $250 million to $300 million. It wasn't made clear what OAO Gazprombank's stake size was.

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