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Pfizer gets green light from Australia to buy Hospira

Staff writer |
Pfizer announced that the Australian Competition and Consumer Commission (ACCC) has approved the company’s pending acquisition of Hospira and found no need for remedies.

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In early August, U.S. drugmaker Pfizer gained European Union antitrust approval for its proposed $15 billion acquisition of Hospira after pledging to sell some drugs to solve competition concerns.

“We are pleased to have achieved another significant milestone for Pfizer’s pending acquisition of Hospira with the ACCC’s approval of the transaction,” said Ian Read, chairman and chief executive officer, Pfizer.

“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.”

Completion of the transaction remains subject to the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, governmental and regulatory approvals in certain other jurisdictions and other usual and customary closing conditions.

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