Pfizer says $15.23B Hospira deal gets final regulatory approvals, will close in September

IndustriesAssociated Press

Drugmaker Pfizer says it's received the final regulatory approvals for its $15.23 billion purchase of injectable drug and infusion device maker Hospira, and says the deal will close in early September.

The New York company said Monday regulators in the U.S. and Brazil cleared the deal. European Union regulators approved it earlier this month.

Continue Reading Below

Pfizer says the Federal Trade Commission ordered it to sell four drugs in order to preserve competition.

Pfizer Inc., the world's second-largest drug company in terms of revenue, makes drugs including the pain and arthritis treatment Celebrex, Prevnar pneumococcal vaccines, and fibromyalgia treatment Lyrica. It agreed to buy Hospira Inc. in February. The deal is intended to strengthen Pfizer's position in the growing market for biosimilars, which are cheaper versions of biologic drugs.