Pfizer pays $68 billion for Wyeth
Pharma giants Pfizer and Wyeth have entered into a definitive merger agreement under which Pfizer will acquire Wyeth in a cash-and-stock transaction currently valued at $50.19 per share, or a total of approximately $68 billion.
The combined company will create one of the most diversified companies in the global health care industry.
The combined company will have product offerings in numerous growing therapeutic areas, a strong product pipeline, leading scientific and manufacturing capabilities and a premier global footprint in health care.
Animal health giant
The merger combines Pfizer Animal Health and Wyeth’s Ft. Dodge Animal Health, creating the largest animal health company in the world, with initial sales that would total $3.681 billion.
Pfizer Animal Health has interests in livestock, companion animals and horses and recorded 2007 sales that were $2.639 billion.
Ft. Dodge has interests in the same animal health segments and recorded 2007 sales that were $1.042 billion.
