BUSINESS BRIEFING
Times Wire Reports
Pfizer Inc.’s $68-billion purchase of Wyeth will close today after receiving approval from antitrust regulators in the U.S. and Canada. The deal will make Pfizer the world’s largest drug maker by revenue.
The Federal Trade Commission approved the deal Wednesday, and the Canadian Competition Bureau also gave its blessing.
Pfizer will have to sell about half of Wyeth’s animal health business and change a Canadian distribution agreement for Estring, a hormone used to treat menopause symptoms. Pfizer said it would also sell its horse vaccine business.
