Pfizer completes $17-billion Hospira acquisition
US pharma giant Pfizer (NYSE: PFE) said it has completed the $17-billion acquisition of Hospira (NYSE: HSP), following which the shares of biosimilar injectables specialist ceased trading on the New York Stock Exchange.
Pfizer said the shareholders of Hospira are now entitled to receive $90 per share in cash for every share of Hospira common stock they owned as of September 3, 2015.
The drugmaker maintains the transaction will immediately add to its earnings by $0.10 - $0.12 per share in the first full year after the close, saying it sees incremental addition from the deal going forward. Additionally, Pfizer expects the transaction will deliver $800 million in annual cost synergies by 2018.
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