Pfizer completes Hospira acquisition

NEW YORK — Pfizer this week announced that it had completed its acquisition of injectable and infusion drug maker Hospira. Pfizer said that the transaction has strengthened the company’s branded and generics portfolio, particularly when it comes to biosimilars, the market for which is expected to hit $20 billion in 2020, and the first of which was launched in the U.S. on Thursday.

“Together, we are … a leading global biosimilars company with a robust pipeline, best-in-class development capabilities and extensive real-world commercialization experience,” John Young, group president global established pharmaceutical business, said. “By increasing the number and availability of high-quality generic injectable drugs and biosimilars that we offer our customers, we are strengthening our commitment to improving the health and quality of life of patients around the world with high quality medicines across key therapeutic areas.”

The company expects the transaction to boost earnings per share by about $0.10 to $0.12 per share in the year after closing, and will adjust its 2015 guidance to incorporate Hospira in the coming weeks.