FTC clears Pfizer's acquisition of Pharmacia

Published: 15-Apr-2003

The US Federal Trade Commission (FTC) has accepted a consent decree clearing the way for Pfizer's acquisition of the Pharmacia Corporation. The companies will commence operating on a combined basis later this week.


The US Federal Trade Commission (FTC) has accepted a consent decree clearing the way for Pfizer's acquisition of the Pharmacia Corporation. The companies will commence operating on a combined basis later this week.

The FTC's unanimous vote accepting the consent decree followed a global regulatory review process that included European Commission (EC) approval in February. Pfizer said the rigorous review process concluded that the companies were highly complementary with few overlaps. The product and product candidate divestitures required by the regulatory agencies are not material, the company said.

'We are very pleased by this decision and we look forward to operating as a unified company,' said Hank McKinnell, Pfizer chairman and ceo. 'The new Pfizer will provide more products to help more patients than any other pharmaceutical company and we will continue to be the world leader in privately funded biomedical research.'

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