European Commission Approval Includes Certain Commitments
Company Website:
http://www.pfizer.com
NEW YORK -- (Business Wire)
Pfizer Inc. (NYSE: PFE) today announced that the European Commission
(EC) has approved under the European Union (EU) Merger Regulation the
company’s pending acquisition of Hospira, Inc. (NYSE: HSP). The
Commission's decision includes Pfizer’s commitment to divest certain
assets.
“We are pleased to have achieved a significant milestone for Pfizer’s
pending acquisition of Hospira with the EC’s approval of the
transaction,” said Ian Read, chairman and chief executive officer,
Pfizer. “We continue to work cooperatively with the regulatory agencies
to obtain the requisite approvals, and continue to expect the
transaction to close in the second half of 2015.”
Completion of the transaction remains subject to the expiration of the
waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of
1976, governmental and regulatory approvals in certain other
jurisdictions and other usual and customary closing conditions.
About Pfizer:
At Pfizer, we apply science and our global resources to bring therapies
to people that extend and significantly improve their lives. We strive
to set the standard for quality, safety and value in the discovery,
development and manufacture of health care products. Our global
portfolio includes medicines and vaccines as well as many of the world's
best-known consumer health care products. Every day, Pfizer colleagues
work across developed and emerging markets to advance wellness,
prevention, treatments and cures that challenge the most feared diseases
of our time. Consistent with our responsibility as one of the world's
premier innovative biopharmaceutical companies, we collaborate with
health care providers, governments and local communities to support and
expand access to reliable, affordable health care around the world. For
more than 150 years, Pfizer has worked to make a difference for all who
rely on us. To learn more, please visit us at www.pfizer.com.
DISCLOSURE NOTICE: The information contained in this release is as of
August 4, 2015. Pfizer assumes no obligation to update forward-looking
statements contained in this release as the result of new information or
future events or developments.
This release contains forward-looking information related to the
pending acquisition of Hospira by Pfizer that involves substantial risks
and uncertainties that could cause actual results to differ materially
from those expressed or implied by such statements. Forward-looking
statements in this release include, among other things, those about the
anticipated timing of closing of the acquisition. Risks and
uncertainties include, among other things, risks related to the
satisfaction of the conditions to closing the acquisition in the
anticipated timeframe or at all, including risks related to the failure
to obtain necessary regulatory approvals and the possibility that the
acquisition does not close; risks related to the ability to realize the
anticipated benefits of the acquisition, including the possibility that
the expected synergies from the pending acquisition will not be realized
or will not be realized within the expected time period; the risk that
the businesses will not be integrated successfully; disruption from the
transaction making it more difficult to maintain business and
operational relationships; negative effects of the announcement of the
pending acquisition or the consummation of the pending acquisition on
the market price of Pfizer's common stock; significant transaction
costs; unknown liabilities; the risk of litigation and/or regulatory
actions related to the pending acquisition; other business effects,
including the effects of industry, market, economic, political or
regulatory conditions; future exchange or interest rates; changes in tax
laws, regulations, rates and policies; the uncertainties inherent in
research and development; and competitive developments.
A further description of risks and uncertainties can be found in
Pfizer's Annual Report on Form 10-K for the fiscal year ended December
31, 2014, including in the sections thereof captioned "Risk Factors" and
"Forward-Looking Information and Factors That May Affect Future
Results", as well as in its subsequent reports on Form 10-Q and Form
8-K, all of which are filed with the SEC and available at www.sec.govand www.pfizer.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150804006424/en/
Contacts:
Pfizer Inc.
Media:
Joan Campion, 212-733-2798
Lisa
O’Neill, +44 7929 339560
or
Investor:
Chuck Triano,
212-733-3901
Source: Pfizer Inc.
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