Canadian bureau OKs Pfizer’s Hospira acquisition

OTTAWA — Not long after it received approval from the European Union for its Hospira acquisition, Pfizer has announced that the Canadian Competition Bureau had approved the transaction, conditional on Pfizer selling  four of its Canadian pharmaceutical products.

 

“We are pleased the Canadian Competition Bureau concluded its review of the transaction and approved the pending combination of Pfizer and Hospira,” Pfizer's Chairman and CEO Ian Read said. “We continue to work cooperatively with the regulatory agencies to obtain the requisite approvals, and continue to expect the transaction to close in the second half of 2015.”

 

Pfizer will divest itself of injectable blood cancer treatment cytarabine, tumor treatment injectable epirubicin, injectable invasive fungal treatment voriconazole and its methotrextate tablets, which treat certain cancer, arthritis and psoriasis. The Bureau’s Commissioner of Competition will decide which buyers will be able to acquire each of the four drugs. 

 

“Pfizer worked cooperatively with the Bureau in order to resolve the Bureau's competition concerns,” Jeanne Pratt, senior deputy commissioner for the Bureau’s Mergers and Monopolistic Practices branch, said. “I am satisfied that this agreement will ensure that competition is preserved in the supply of these important therapies."