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Markets :: Fine Chemicals/Biotech :: Pharmaceutical ingredients

Pfizer Gets Approval from European Commission for $68-Billion Wyeth Acquisition

2:10 AM MDT | July 20, 2009 | Deepti Ramesh

Pfizer says that the European Commission, under the European Union Merger Regulation, has approved Pfizer’s previously announced acquisition of Wyeth for a total of $68 billion. Pfizer agreed to acquire Wyeth in January 2009 in a deal that the companies say will create one of the most diversified health care firms worldwide. The merged company would offer a broad product portfolio including 17 products with more than $1 billion/year each in revenue. No drug is expected to account for more than 10% of the combined entity’s revenue in...

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