Pfizer to Acquire Hospira

The pharmaceutical giant is purchasing the injectable drugmaker for about $15 billion.

Written byBob Grant

| 1 min read

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WIKIMEDIA, NORBERT NAGELPfizer has agreed to buy Illinois-based Hospira, which is a major manufacturer of injectable drugs, infusion technologies, and biosimilars, for $90 a share. This is the first major acquisition for Pfizer after its blockbuster deal to buy AstraZeneca for more than $100 million was scuttled last year.

The deal, which is expected to close in the second half of 2015, comes as some of Pfizer’s top-selling drugs are set to lose patent protection. “The proposed acquisition of Hospira demonstrates our commitment to prudently deploy capital to create shareholder value and deliver incremental revenue and [earnings per share] growth in the near term,” Pfizer’s chief executive Ian Read said in a statement.

Pfizer officials said that the acquisition should net cost savings in the neighborhood of $800 million by 2018.

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Meet the Author

Bob Grant
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From 2017 to 2022, Bob Grant was Editor in Chief of The Scientist, where he started in 2007 as a Staff Writer. Before joining the team, he worked as a reporter at Audubon and earned a master’s degree in science journalism from New York University. In his previous life, he pursued a career in science, getting a bachelor’s degree in wildlife biology from Montana State University and a master’s degree in marine biology from the College of Charleston in South Carolina. Bob edited Reading Frames and other sections of the magazine.
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