Pfizer expects Wyeth acquisition will be complete by year-end

Pfizer expects its acquisition of Wyeth to be complete by the end of the year.

After it announced the merger, the pharmaceutical company received a call for further information from the Federal Trade Commission (FTC).

Pfizer had anticipated that additional details ? often known as a “second request” – would be necessary as part of legal proceedings.

Completion of the transaction will depend on governmental and regulatory approvals, as well as support from Wyeth’s stockholders and satisfaction of certain monetary conditions.

Pfizer commented: “[We] intend to respond expeditiously to this request and continue to work cooperatively with the FTC in connection with its review.”

Last week, the firm was the first pharmaceutical company to be approved by the Association of Human Research Protection Programs for looking after the safety and wellbeing of human subjects participating in early-stage clinical trials.

President of Pfizer’s global research and development department Dr Martin Mackay remarked the official approval was an indication of the business’ commitment to protecting the rights of individuals taking part in its studies.