Pfizer Receives Clearance from U.S. Federal Trade Commission for Hospira Acquisition
August 24 2015 - 8:00AM
Business Wire
- FTC Consent Order includes agreement
to divest four sterile injectable assets
- Brazil’s Superintendency-General of
the Council for Economic Defense (CADE) has published its
unconditional clearance decision
- Transaction expected to close in
early September 2015
Pfizer Inc. (NYSE:PFE) today announced that the U.S. Federal
Trade Commission terminated the waiting period under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended,
with respect to Pfizer’s pending acquisition of Hospira (NYSE:HSP).
The FTC’s clearance is contingent upon Pfizer’s commitment to
divest four U.S. sterile injectable assets, including
Acetylcysteine, Clindamycin, Voriconazole and Melphalan.
In addition, Pfizer announced that Brazil’s
Superintendency-General of CADE has published its unconditional
clearance decision.
“We are pleased to have received these final regulatory
approvals for our pending acquisition of Hospira,” said Ian Read,
Chairman and Chief Executive Officer, Pfizer. “We now look forward
to combining our two companies and expect the transaction to close
in early September.”
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 24, 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 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/20150824005472/en/
Pfizer Inc.Media:Joan Campion, 212-733-2798orInvestor:Chuck
Triano, 212-733-3901
Pfizer (NYSE:PFE)
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