Al Jazeera’s Al Jazeera Investigations team is investigating the story of the pharmaceutical company Merrimacks.
In December 2015, Merrimacs stock was trading at $3.62, an increase of more than 300% over the previous year.
The company has since gone on a buyback programme that has seen it acquire stakes in some of the most profitable pharmaceutical companies in the world.
Merrimac’s acquisition of Ampad Pharmaceuticals in June 2018 is a direct result of its own actions.
It has already invested more than $200 million into the pharmaceuticals giant.
Ampad has been one of the world’s most profitable drug companies for the last five years, and it is the second-largest pharmaceutical company in the country after Pfizer.
AmPad is a spin-off from Merrimash pharmaceuticals that was founded in 1876.
Ampad is a wholly owned subsidiary of Merrimex Pharmaceuticals, which has an operating arm in the US.
The merger of Ampeda and Merrimer will mean the merger will have a significant impact on the drug industry in New Zealand, as Merrimas pharmaceutical company will be able to benefit from Merrimes profits.
In an exclusive interview with Al Jazeera, Merrims chief executive officer, Dr Tom Auld, says that the merger of Merridam and Merrimacker will “give us a much wider portfolio of pharmaceuticals and a broader range of opportunities”.
Auld also says the merger is being completed as planned.
“The merger is completed, the companies are aligned and they’re very excited about this.”
The merger has been the subject of scrutiny for years and has been referred to the Competition Authority (CAC) by several courts.
The CAC is also investigating Merrampas actions.
Al Jazeera’s investigative team has found that Merrimais acquisition of AMP has not gone unnoticed by other pharmaceutical companies.
A New Zealand-based pharmaceutical company, Merriam, was involved in an earlier merger in which Merrimax acquired Ampedad Pharmaceuticals.
The CAC has also been criticised for taking months to act on the merger, despite being aware of the merger and the risks involved.
“I am not surprised that the regulator has been taking months because the CAC was aware of these issues for months,” Merrimam chief executive Dr John White said.
“There are some questions about the process of the CAA being involved and I think that they have taken a fair amount of time to make sure that the information is clear and they are working with the regulators to see if there are any opportunities there for the industry in the future.”
Auckland Mayor Celia Wade says the new pharmaceuticals market in Newland is hugeAl Jazeera: Merrimams takeover of AmPad will allow it to tap into the vast untapped potential in the New Zealand pharmaceutical industry.
“If we are going to build a strong, high quality drug delivery system, we need to be able do it in a very competitive environment,” said Auckland Mayor Celian Wade.
“We need a strong pharma sector to come into New Zealand and provide medicines for the country.
“And so I think it’s absolutely fantastic that the New Zilda and the Newland are coming together and there is a lot of potential in both.””
New Zealand pharmaceuticals are the world leaders in the supply of medicines to more than 2.5 billion people, and have a market share of more that 50%.”
And so I think it’s absolutely fantastic that the New Zilda and the Newland are coming together and there is a lot of potential in both.”
New Zealand pharmaceuticals are the world leaders in the supply of medicines to more than 2.5 billion people, and have a market share of more that 50%.
Merrimac is a multi-national pharmaceutical company with subsidiaries in the United States, the United Kingdom, Ireland, and Canada.
It is one of New Zealands biggest companies, with a market value of $3 billion.