• One Health
  • Pain Management
  • Oncology
  • Anesthesia
  • Geriatric & Palliative Medicine
  • Ophthalmology
  • Anatomic Pathology
  • Poultry Medicine
  • Infectious Diseases
  • Dermatology
  • Theriogenology
  • Nutrition
  • Animal Welfare
  • Radiology
  • Internal Medicine
  • Small Ruminant
  • Cardiology
  • Dentistry
  • Feline Medicine
  • Soft Tissue Surgery
  • Urology/Nephrology
  • Avian & Exotic
  • Preventive Medicine
  • Anesthesiology & Pain Management
  • Integrative & Holistic Medicine
  • Food Animals
  • Behavior
  • Zoo Medicine
  • Toxicology
  • Orthopedics
  • Emergency & Critical Care
  • Equine Medicine
  • Pharmacology
  • Pediatrics
  • Respiratory Medicine
  • Shelter Medicine
  • Parasitology
  • Clinical Pathology
  • Virtual Care
  • Rehabilitation
  • Epidemiology
  • Fish Medicine
  • Diabetes
  • Livestock
  • Endocrinology

Pfizer to buy Wyeth

Article

New York -- Pfizer and Wyeth (parent company of Fort Dodge Animal Health) today announced that they have entered into a definitive merger agreement. Pfizer will acquire Wyeth in a cash-and-stock transaction valued at $68 billion, the companies report in a prepared statement. The Boards of Directors of both companies have approved the combination.

New York

-- Pfizer and Wyeth (parent company of Fort Dodge Animal Health) today announced they have entered into a definitive merger agreement.

Pfizer will acquire Wyeth in a cash-and-stock transaction valued at $68 billion. The boards of directors for both companies have approved the combination.

The combined company will create one of the most diversified companies in the global health-care industry, Pfizer says in a prepared statement.

With its broad and diversified global product portfolio and reduced dependence on small molecules, the new company will be positioned for improved, consistent, and stable top-line and EPS growth and sustainable shareholder value in the short and long term. It is expected that no drug will account for more than 10 percent of the combined company's revenue in 2012, Pfizer says.

The transaction will be financed through a combination of cash, debt and stock. A consortium of banks has provided commitments for a total of $22.5 billion in debt.

Jeffrey B. Kindler, chairman and CEO of Pfizer, said: "The combination of Pfizer and Wyeth provides a powerful opportunity to transform our industry. It will produce the world's premier biopharmaceutical company whose distinct blend of diversification, flexibility, and scale positions it for success in a dynamic global health care environment. The new company will be an industry leader in human, animal and consumer health."

Related Videos
062018_cyberbullying-220_kjames.png
big-hand-cutting-the-wire-450px-shutterstock-568795309.jpg
© 2024 MJH Life Sciences

All rights reserved.