Pfizer Inc. today announced that it has combined operations
with King Pharmaceuticals, Inc. On February 28, 2011, Pfizer completed its acquisition
of King through the merger of its wholly owned subsidiary, Parker Tennessee
Corp., with and into King. King is now a wholly owned subsidiary of Pfizer.
“With the addition of King’s talented colleagues and
innovative products and technology, Pfizer will offer patients who are in need
of pain relief and pain management a broader spectrum of treatment options,”
said Ian Read, Pfizer president and chief Executive officer.
“Pfizer’s expanded portfolio also includes King’s Meridian auto- injector business for emergency drug
delivery, which develops and manufactures the EpiPen(R), and its Alpharma
animal health business, both of which are complementary to and aligned with
Pfizer’s existing businesses.” We believe we are in a position to quickly
capitalize on the benefits offered by the combination with King, including a
strengthened portfolio, immediate incremental revenues and an anticipated contribution
to steady earnings growth and shareholder value.”