Pfizer buys Pharmacia for $60 billion

Manufacturing News, Source : TheManufacturer.com
Published : 15 Jul 2002 21:34

Pfizer, the world’s largest pharmaceuticals company, has announced plans to buy its competitor, Pharmacia, for $60 billion.

With the acquisition, analysts expect Pfizer to expand its grip on the market from 8% to 11%. In addition, Pfizer plans to now corner the anti-arthritic, anti-cholesterol, and anti-depressant markets.

Through the deal, which has yet to be approved by regulators, Pfizer will gain a number of leading products under the Pharmacia banner, including Celebrex , the arthritis treatment which it introduced with Pharmacia in 1999, Xalatan, the glaucoma medicine, and Gentropin, the growth hormone deficiency therapy.

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