Pfizer to acquire Hospira in $17-billion mega-purchase
6 Feb 2015 1:32 AM GMT
Pharmaceuticals giant Pfizer Inc will acquire Hospira Inc, a leading provider of injectable drugs, infusion technologies and biosimilars, at a total enterprise value of $17 billion. This is Pfizer’s biggest acquisition after its failed $117 billion takeover bid for UK-based pharmaceuticals firm AstraZeneca in May last year. The Boards of Directors of Pfizer and Hospira have unanimously approved the merger, Pfizer said in a statement.
Under the deal, Pfizer will pay $90 a share in cash for a total enterprise value of approximately $17 billion.
Coupled with Pfizer's global reach, Hospira is expected to drive greater sustainability for Pfizer's Global Established Pharmaceutical business over the long term.
Hospira CEO, F Michael Ball said: "The Pfizer-Hospira combination is an excellent strategic fit,
presenting a unique opportunity to leverage the complementary strengths of our robust portfolios and rich pipelines."
Under the deal, Pfizer will pay $90 a share in cash for a total enterprise value of approximately $17 billion.
Coupled with Pfizer's global reach, Hospira is expected to drive greater sustainability for Pfizer's Global Established Pharmaceutical business over the long term.
Hospira CEO, F Michael Ball said: "The Pfizer-Hospira combination is an excellent strategic fit,
presenting a unique opportunity to leverage the complementary strengths of our robust portfolios and rich pipelines."
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