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EU: Pfizer offers concessions for Hospira deal

 |  July 14, 2015

US drugmaker Pfizer has offered concessions in a bid to win European Union regulatory approval for its $15 billion takeover of US rival Hospira, the European Commission said on Tuesday.

The EU competition authority did not provide details of Pfizer’s proposal in line with its policy. It extended the deadline for its decision to August 4 from July 20 to examine the concessions.

It can either clear the deal if it considers Pfizer has allayed competition concerns regarding the deal or open a full-scale investigation.

Pfizer, maker of impotence treatment Viagra and cholesterol drug Lipitor, is making its biggest ever acquisition aimed at expanding its portfolio of generic injectable drugs and copies of biotech medicines.

Full content: Business Insider

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