Pfizer has agreed to buy Hospira, the top provider of injectable drugs, for $15.2 billion, in a move to expand its global product portfolio. Pfizer said the acquisition [for $90 a share $65 yesterday] will provide a growing revenue stream for its global established pharmaceutical business.
Hospira is a top provider of sterile injectable drugs, including those used for acute care and cancer treatment infusion technologies and biosimilars.
Pfizer CEO Ian Read said the company's global business "will benefit from a significantly enhanced product portfolio in growing markets."
The boards of both companies have unanimously approved the deal, which must be cleared by regulators and Hospira shareholders. It's expected to close in the second half of 2015.
Earlier, Pfizer abandoned its attempt to buy AstraZeneca for nearly $118 billion as a deadline approached without a last-minute change of heart by the British drugmaker.
The decision ends a month-long public fight between two of the world's biggest pharmaceutical companies that sparked political concerns on both sides of Atlantic over jobs and corporate tax maneuvers.
Pfizer got money, but no medications in Research and Development. So what to do? All in all, there is no new medications to the market, but will cost you more since US market prices is out of control compared to Canada, England..etc
Just a thought.
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