Pfizer offers concessions in bid to win EU okay for Hospira deal
Reuters
Published Jul 14, 2015 09:54AM ET
Pfizer offers concessions in bid to win EU okay for Hospira deal
BRUSSELS (Reuters) - U.S. drugmaker Pfizer (N:PFE) has offered concessions in a bid to win European Union regulatory approval for its $15 billion takeover of U.S. rival Hospira (N:HSP), the European Commission said on Tuesday.
The EU competition authority did not provide details of Pfizer's proposal in line with its policy. It extended the deadline for its decision to Aug. 4 from July 20 to examine the concessions.
It can either clear the deal if it considers Pfizer has allayed competition concerns regarding the deal or open a full-scale investigation.
Pfizer, maker of impotence treatment Viagra and cholesterol drug Lipitor, is making its biggest ever acquisition aimed at expanding its portfolio of generic injectable drugs and copies of biotech medicines.
Hospira makes generic versions of injectable drugs used in hospitals, pumps to deliver such medicine and also sells biosimilars or copies of biotech drugs.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.