Pfizer, Pharmacia merger gets green light

 

The US Federal Trade Commission (FTC)has given the green light to the merger of pharmaceutical giantsPfizer and Pharmacia, the companies said in a statement today.

The final obstacle to the merger was overcome when agreement wasreached with the FTC over a list of activities the two companieswill have to keep separate to avoid monopoly concerns, the statementsaid.

The two companies had already reached tentative agreement withthe FTC in March for Pfizer to acquire Pharmacia, in a deal whichwas valued at some $60 billion when it was first mooted inJuly last year.

EU authorities rubberstamped the deal in February.

The merger will consolidate Pfizer's position as number one inthe pharmaceutical industry.