Pfizer Granted Approval From The Canadian Competition Bureau For Hospira Acquisition
August 14 2015 - 8:35AM
Business Wire
Approval Includes Certain
Commitments
Pfizer Inc. (NYSE: PFE) today announced that it was granted
approval from the Canadian Competition Bureau with respect to its
pending acquisition of Hospira (NYSE: HSP). As part of its
agreement with the Canadian Competition Bureau, Pfizer has
committed to divest certain assets in Canada.
“We are pleased the Canadian Competition Bureau concluded its
review of the transaction and approved the pending combination of
Pfizer and Hospira,” said Ian Read, chairman and chief executive
officer, Pfizer. “We continue to work cooperatively with the
regulatory agencies to obtain the requisite approvals, and continue
to expect the transaction to close in the second half of 2015.”
Completion of the transaction remains subject to governmental
and regulatory approvals in certain other jurisdictions and other
usual and customary closing conditions.
About Pfizer:
At Pfizer, we apply science and our global resources to bring
therapies to people that extend and significantly improve their
lives. We strive to set the standard for quality, safety and value
in the discovery, development and manufacture of health care
products. Our global portfolio includes medicines and vaccines as
well as many of the world's best-known consumer health care
products. Every day, Pfizer colleagues work across developed and
emerging markets to advance wellness, prevention, treatments and
cures that challenge the most feared diseases of our time.
Consistent with our responsibility as one of the world's premier
innovative biopharmaceutical companies, we collaborate with health
care providers, governments and local communities to support and
expand access to reliable, affordable health care around the world.
For more than 150 years, Pfizer has worked to make a difference for
all who rely on us. To learn more, please visit us at
www.pfizer.com.
DISCLOSURE NOTICE: The information contained in this release is
as of August 14, 2015. Pfizer assumes no obligation to update
forward-looking statements contained in this release as the result
of new information or future events or developments.
This release contains forward-looking information related to the
pending acquisition of Hospira by Pfizer that involves substantial
risks and uncertainties that could cause actual results to differ
materially from those expressed or implied by such statements.
Forward-looking statements in this release include, among other
things, those about the anticipated timing of closing of the
acquisition. Risks and uncertainties include, among other things,
risks related to the satisfaction of the conditions to closing the
acquisition in the anticipated timeframe or at all, including risks
related to the failure to obtain necessary regulatory approvals and
the possibility that the acquisition does not close; risks related
to the ability to realize the anticipated benefits of the
acquisition, including the possibility that the expected synergies
from the pending acquisition will not be realized or will not be
realized within the expected time period; the risk that the
businesses will not be integrated successfully; disruption from the
transaction making it more difficult to maintain business and
operational relationships; negative effects of the announcement of
the pending acquisition or the consummation of the pending
acquisition on the market price of Pfizer's common stock;
significant transaction costs; unknown liabilities; the risk of
litigation and/or regulatory actions related to the pending
acquisition; other business effects, including the effects of
industry, market, economic, political or regulatory conditions;
future exchange or interest rates; changes in tax laws,
regulations, rates and policies; the uncertainties inherent in
research and development; and competitive developments.
A further description of risks and uncertainties can be found in
Pfizer's Annual Report on Form 10-K for the fiscal year ended
December 31, 2014, including in the sections thereof captioned
"Risk Factors" and "Forward-Looking Information and Factors That
May Affect Future Results", as well as in its subsequent reports on
Form 10-Q and Form 8-K, all of which are filed with the SEC and
available at www.sec.gov and www.pfizer.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20150814005277/en/
Pfizer Inc.Media:Joan Campion, 212-733-2798orInvestor:Chuck
Triano, 212-733-3901
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