Wyeth stockholders approve Pfizer merger

Wyeth’s stockholders have “overwhelmingly” approved the adoption of the company’s merger agreement with Pfizer, it has announced.

In a statement, the organisation explained that based on a preliminary vote count by its transfer agent following the annual meeting of stockholders, more than 98 per cent of shareholders voted in favour of the transaction.

Bernard Poussot, Wyeth’s chairman, president and chief executive, said that the merger is in the best interests of the firm and its stockholders.

He stated that merging with Pfizer would allow the organisation to develop into “the world’s premier biopharmaceutical company” and a leader in consumer, human and animal healthcare.

“The combined organisation will continue Wyeth’s mission to bring innovative medical solutions to patients around the world,” Mr Poussot furthered.

In other business at the meeting, the firm’s stockholders re-elected 11 current members of the company’s board of directors.

At a meeting of the board last month, the organisation announced a dividend of 30 cents (18p) per share on the common stock of the firm.