Pfizer completes acquisition of Hospira

Pfizer has announced that it has completed the acquisition of Hospira, a leading provider of  injectable drugs, infusion technologies and biosimilars.

The deal creates a leading global established pharmaceutical business, with a leadership position in the large and growing sterile injectables category, as well as a robust portfolio of both generic and branded products.

Hospira has now become a subsidiary of Pfizer, though the combination of local Pfizer and Hospira organisations still depend on the completion of legal and regulatory steps in their respective territories.

Pfizer will now be able to boast an enhanced portfolio of sterile injectables, biosimilars and medication management systems.

Ian Read, chairman and chief executive officer of Pfizer, said: "We want to welcome our new Hospira colleagues to Pfizer. We are excited to add their talents and proud of the shared commitment of all Pfizer colleagues to serving patients worldwide."

Both sterile injectables and biosimilars are large and growing categories, and it is expected that this $17 billion (11.15 billion pounds) deal will strengthen Pfizer's position in these markets.