Breaking News on Pharmaceutical Technology

On your radar > Lifecycle management

News in brief

Wyeth shareholders OK Pfizer takeover

21-Jul-2009

Related topics: Lifecycle management, Mergers and acquisitions, Industry Drivers

Wyeth’s shareholders gave Pfizer’s $68bn (€48bn) takeover a ringing endorsement late yesterday, with 98 per cent voting in favour of the deal.

The acquisition, which was announced in January, is part of Pfizer’s efforts to reshape ahead of the impending loss of patent protection for key products like the hypertension blockbuster Lipitor (atorvastatin).

Key products that Pfizer will gain are the rheumatoid arthritis treatment Enbrel (etanercep) and the blockbuster pneumococcal conjugate vaccine Prevnar.

News of the vote follows just days after European competition authorities said that the acquisition would not stifle competition as long as Pfizer sells some of its animal vaccines and pharmaceutical additives operations.

The takeover is still under review by competition authorities in the US and China.

Follow us on