(BUSINESS WIRE) Pfizer, Inc. announced that it has completed its acquisition of the pharmaceutical development company, InnoPharma, Inc., following receipt of United States (U.S.) regulatory approval from all government authorities required by the agreement and other closing conditions.
“We believe this acquisition will help Pfizer build a strong sterile injectables pipeline in areas such as oncology and central nervous disorders,” said John Young, group president, Pfizer Global Established Pharma (GEP). “Sterile injectables is one of several areas of potential growth for GEP. This acquisition reflects our continued view that attractive growth opportunities, both external and organic, exist for the business.”
(PRNewswire) Abbott has acquired control of CFR Pharmaceuticals, more than doubling its Latin American-branded generics pharmaceutical presence and further expanding the company’s presence in fast-growing markets. Abbott indirectly acquired more than 99 percent of CFR’s ordinary shares for approximately $2.9 billion.
“By adding CFR’s portfolio of well-known, trusted products, Abbott has taken another key step in actively shaping its portfolio to better meet the evolving needs of health care and drive sustainable growth,” said Miles D. White, chairman and chief executive officer, Abbott.
The CFR acquisition immediately establishes Abbott among the top 10 pharmaceutical companies in Latin America, a market that is expected to reach $124 billion by 2018, with estimated annual growth rates of two to three times that of developed markets over the coming years, according to IMS. This transaction will not impact Abbott’s ongoing earnings-per-share guidance for 2014.
After giving effect to the purchase today of Kalo Pharma Internacional S.L.U., which indirectly owns 72 percent of the shares of CFR, and the purchase of the ordinary shares and American Depositary Shares tendered in the tender offers, Abbott will indirectly own approximately 99.6 percent of the outstanding ordinary shares of CFR.