Please login to the form below

Not currently logged in
Email:
Password:

Pfizer's Wyeth acquisition gets EC go ahead

Pfizer has announced that the EC has cleared its $68bn purchase of Wyeth

Pfizer has announced that the European Commission(EC) (under the European Union Merger Regulation authorisation process) has cleared its $68bn purchase of Wyeth.

"We are pleased to have achieved another significant milestone for the pending acquisition with the EC's approval of the transaction," said Amy Schulman, senior vice president and general counsel of Pfizer.

Pfizer agreed to buy Wyeth in January, but approvals from regulators and governments on several continents are required due to the size of the businesses involved. Pfizer has also said that the Chinese Ministry of Commerce has extended its review of the deal beyond the initial 30 days. Meanwhile, in the US, a 90-day regulatory review continues.

Wyeth shareholders are scheduled to vote on the merger today and the deal is expected to close at the end of the third quarter or during the fourth.

20th July 2009

Share

Featured jobs

Subscribe to our email news alerts

PMHub

Add my company
Cello Health

Cello Health’s mission is to help our clients unlock the potential that exists with their assets, brands and organisations in...

Latest intelligence

World Pancreatic Cancer Day 2018: Combating misconceptions in pancreatic cancer
Patients diagnosed with pancreatic cancer face a dismal prognosis, with the disease having the lowest survival rate of all major cancers. In spite of this, pancreatic cancer research is chronically...
World Diabetes Day: Interaction and impact of diabetes on mental health
For World Diabetes Day on the 14th November 2018, Nisha Shahrukh - Medical Writer at Mednet Group has written an article depicting the impact diabetes has on mental health. Including...
EU
Innovation in merger control and the impact on the pharmaceutical sector
Is focusing on pipeline products enough to assess regulatory risks?...

Infographics