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Home Industry News Pfizer Animal Health to be expanded by King takeover

Pfizer Animal Health to be expanded by King takeover

14th October 2010

Pfizer Animal Health is to see an expansion of its business assets as a result of parent company Pfizer's planned takeover of King Pharmaceuticals.

The healthcare giant has agreed a $3.6 billion (2.3 billion pounds) deal to acquire King, a transaction which will also involve the purchase of the animal health business Alpharma.

This business unit specialises in the development, manufacturing and sale of pharmaceutical products for food-producing animals, including a number of feed additive agents for a diverse range of species.

Pfizer expects that its natural alignment with King Pharmaceuticals' portfolio will allow their respective assets to be seamlessly combined.

This comes after Pfizer Animal Health added a wide array of new products to its range last year following the merger between Pfizer and Wyeth.

The deal involved the divesture of a number of products to Lilly, including vaccines, parasiticides and feed additives, as well as allowing the business to experience significant increases in year-on-year revenues.ADNFCR-8000103-ID-800116908-ADNFCR

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