Pfizer's Hospira deal gains U.S. approval
Pfizer Inc. announced Monday that it has received final clearance in the United States and Brazil to complete its $15.2 billion acquisition of Hospira Inc.
The U.S. Federal Trade Commission approved the acquisition, but is insisting that Pfizer sell off four of its U.S. sterile injectables: Acetylcysteine, Clindamycin, Voriconazole and Melphalan.
Pfizer, seeking to become a leading pharmaceutical firm in the biosimilars market that offers cheaper alternatives to biologic drugs, announced the purchase of Hospira in February. It had previously agreed to divestitures to gain approval of the merger in Europe.
Ian Read, Pfizer's chairman, said he expects the merger to be completed in early September.
Comment threads are monitored for 48 hours after publication and then closed.
