Looks like you’re on the UK site. Choose another location to see content specific to your location

Home Industry News Pfizer confirms merger deal with King Pharmaceuticals

Pfizer confirms merger deal with King Pharmaceuticals

15th October 2010

Pfizer has agreed a $3.6 billion (2.2 billion pounds) definitive merger acquisition deal with King Pharmaceuticals, which is expected to strengthen the company's business prospects in a number of ways.

The agreement sees Pfizer commence a cash tender offer for all outstanding shares in King's common stock, with finalisation of the transaction due to take place in the fourth quarter of 2010 or the first quarter of 2011.

Once complete, the deal allows Pfizer to take control of a business with a strong presence in the expanding pain relief market, with King specialising in treatments that discourage common means of misuse and abuse.

Among its product offerings are the Meridian auto-injector, the Flector Patch and the drug Avinza, while the company also has a presence in the animal health market.

Jeffrey Kindler, Pfizer's chairman and chief executive officer, said: "The combination of our respective portfolios in this area of unmet medical need is highly complementary and will allow us to offer a fuller spectrum of treatments for patients across the globe."

This comes after Pfizer completed a major deal to acquire Wyeth last year, a move which has reinforced its position as one of the world's largest pharmaceutical firms.ADNFCR-8000103-ID-800118310-ADNFCR

We currently have 5 jobs available in Pharmacy industry, find your perfect one now.

Stay informed

Receive the latest industry news, Tips
and straight to your inbox.