Pfizer says purchase of Wyeth will close Thursday after antitrust approval

Antitrust regulators in Canada and the United States cleared Pfizer Inc.’s US$68 billion purchase of Wyeth on Wednesday on the condition the companies sell a number of animal health products to a German drugmaker.

OTTAWA — Antitrust regulators in Canada and the United States cleared Pfizer Inc.’s US$68 billion purchase of Wyeth on Wednesday on the condition the companies sell a number of animal health products to a German drugmaker.

Under the agreement with the companies will divest certain animal pharmaceutical and vaccine products, including Wyeth’s vaccines for cattle, dogs, and cats, and medicines used in treating cattle, dogs, cats, and horses., to Boehringer Ingelheim Vetmedica Inc.

Pfizer will also amend a distribution arrangement with Paladin Labs Inc. governing the distribution, marketing and sale of Pfizer’s human pharmaceutical product, Estring, in Canada.

“The parties’ commitments address our concern that the merger would lessen competition substantially in the supply of certain human and animal health products,” said Melanie Aitken, commissioner of competition.

The merger is expected to close Thursday.

The deal will pump up the sales and pipeline of New York-based Pfizer by giving it Madison, N.J.-based Wyeth’s biotechnology drugs and vaccines like Prevnar. Its top selling drugs include the antidepressant Effexor, and Enbrel for rheumatoid arthritis.

“We are pleased to have received all of the requisite regulatory approvals for our combination with Wyeth,” Pfizer chairman and chief executive Jeffrey Kindler said.

“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.”

Just Posted

PHOTO: Renewable Energy Fair at Red Deer College

The Renewable Energy Fair and Workshops event was held at Red Deer… Continue reading

PHOTOS: Red Deer College Queens host third annual Pink in the Rink game

The RDC Queens picked up an extra special victory on home ice… Continue reading

PHOTOS: The Mustard Seed CEO speaks at Seeds of Hope Gala in Red Deer

The first-ever Seeds of Hope Gala was held at the Red Deer… Continue reading

Person airlifted to hospital after collision near Innisfail

One person was airlifted to hospital after a serious collision west of… Continue reading

WATCH: Make-A-Wish grants Star Wars loving teen’s wish

The Make-A-Wish Foundation granted Anakin Suerink’s wish in Red Deer Saturday afternoon

Migrant caravan swells to 5,000, resumes advance toward US

CIUDAD HIDALGO, Mexico — Despite Mexican efforts to stop them at the… Continue reading

“I don’t feel real”: Mental stress mounting after Michael

PANAMA CITY, Fla. — Amy Cross has a hard time explaining the… Continue reading

Toronto residents set to vote Monday on the next four years of civic leaders

Toronto’s municipal election campaign, marked by unprecedented provincial interference, ends Monday when… Continue reading

Former PQ minister Lise Payette remembered as role model for female politicians

MONTREAL — Members from across Quebec’s political spectrum gathered at a downtown… Continue reading

Voters head to polls for BC municipal elections today, some complain of long lines

VANCOUVER — Voters in British Columbia are heading to the polls today… Continue reading

Kennedy Stewart named mayor of Vancouver; one of several B.C. turnovers

VANCOUVER — Former New Democrat MP Kennedy Stewart has won a neck-and-neck… Continue reading

‘In our bloodline:’ Land-based learning links curriculum with Indigenous culture

REGINA — A school day for six-year-old Hunter Sasakamoose can start with… Continue reading

‘Stupid’ law preventing Canada’s re-engagement with Iran: retired envoy

OTTAWA — The real reason the Liberal government hasn’t been able to… Continue reading

Most Read