EU regulators conditionally okay Pfizer-Hospira merger
US pharma giant Pfizer (NYSE: PFE) said the European Commission has conditionally approved its $17-billion acquisition of Hospira (NYSE: HSP).
However, the Commission has asked Pfizer to sell off some of its sterile injectable drugs due to possible competition concerns. In addition, the company will also need to divest its biosimilar version of Johnson & Johnson and Merck & Co.'s Remicade (infliximab), currently under development. Pfizer will be allowed to retain marketing rights to its Remicade biosimilar outside the European Union.
Ian Read, chief executive at Pfizer, said: "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."
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