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Pfizer to buy Danish consumer health firm

Pfizer has entered into an agreement to purchase the Danish firm Ferrosan's consumer healthcare business

Pfizer has entered into a definitive agreement to purchase the Danish firm Ferrosan's consumer healthcare business in a bid to strengthen its presence in the dietary supplement market.

Copenhagen-based Ferrosan specialises in dietary supplements and lifestyle products, including the multivitamin brand Multi-tabs, the probiotic Bifiform, the Omega 3 supplement Fri Flyt/Active Omega, and the oral skincare brand Imedeen.

Pfizer is buying the business from Altor 2003 Fund GP Limited, the company's principle shareholder since 2005, for an undisclosed sum in a transaction that is expected to close during the second quarter of 2011.

"The transaction will mark an important step towards expanding Ferrosan's brands through Pfizer's global footprint," Paul Sturman, president of Pfizer Consumer Healthcare, said in a statement. "As an immediate result of this acquisition, we will gain greater distribution and scale for Pfizer's well-known brands such as Centrum and Caltrate in Ferrosan's regions."

Those regions include Denmark, Russia, the Ukraine, Poland, Turkey and other countries in Central and Eastern Europe.

Pfizer acquired the multivitamin brand Centrum and the calcium supplement brand Caltrate when it bought Wyeth in a $68bn deal in 2009.

Ferrosan's medical devices business, which is focused on providing gelatin-based topical absorbable haemostatic products, will remain under Altor's ownership.

8th February 2011

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