Pfizer Receives Clearance From The U.S. Federal Trade Commission And The Canadian Competition Bureau For Wyeth Acquisition

Pfizer Inc 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 Wyeth. In addition, Pfizer has received approval from the Canadian Competition Bureau for the pending acquisition.
Thursday 15 October 2009 (9 years 5 days ago)
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Pfizer Inc 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 Wyeth. In addition, Pfizer has received approval from the Canadian Competition Bureau for the pending acquisition.

With the receipt of these clearances, Pfizer has now satisfied the regulatory approval requirements under the merger agreement to complete the acquisition of Wyeth. Pfizer expects to close the transaction on October 15, 2009.

The Federal Trade Commission’s and Canadian Competition Bureau’s decisions require Pfizer to divest certain animal health assets in the U.S. and Canada, respectively, to Boehringer Ingelheim, as previously announced. In addition, the Canadian Competition Bureau’s decision includes Pfizer’s commitment to amend an existing distribution agreement in Canada related to Estring.

“We are pleased to have received all of the requisite regulatory approvals for our combination with Wyeth,” said Jeffrey Kindler, chairman and chief executive officer, Pfizer. “We now look forward to combining the two companies so that we can achieve meaningful results for patients, customers and the communities we serve, as well as for our shareholders.”

Pfizer Inc: Working Together for a Healthier World™

At Pfizer, we apply science and our global resources to improve health and well-being at every stage of life. We strive to set the standard for quality, safety and value in the discovery, development and manufacturing of medicines for people and animals. Our diversified global health care portfolio includes human and animal biologic and small molecule medicines and vaccines, as well as nutritional products and many of the world’s best-known consumer 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 the world’s leading biopharmaceutical company, we also 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 about our commitments, please visit us at www.pfizer.com

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