Pfizer Animal Health Enters into Agreement to Acquire Animal Health Products from Schering-Plough Corporation
PARIS -- Pfizer Animal Health today announced that it has entered into an agreement to acquire multiple product franchises from Schering-Plough Corporation covering all major animal health species including cattle, swine, equine, and companion animal.
Specifically, Pfizer Animal Health will acquire from Schering-Plough a number of animal health products for sale in the European Economic Area covering the following categories:
* Swine E. coli Vaccines * Equine Influenza and Tetanus Vaccines * Ruminant Neonatal and Clostridia Vaccines * Rabies Vaccines * Companion Animal Veterinary Specialty Products * Parasiticides & Anti-inflammatories
The acquisition is subject to certain closing conditions, including antitrust approval. Terms of the agreement were not disclosed.
Pfizer Animal Healthâ€™s Europe President, Albert Bourla, said that the acquisition will enable Pfizer Animal Health Europe to build upon its comprehensive animal health solutions for veterinarians and their clients - farmers and pet owners - in Europe. Bourla added, â€œWe look forward to offering veterinarians additional preventative therapies and treatments along with our technical expertise and services to ensure that animals receive the best care possible.â€
About Pfizer Animal Health
Pfizer Inc (NYSE: PFE - News), the worldâ€™s largest research-based pharmaceutical company, is a world leader in discovering and developing innovative animal vaccines and prescription medicines. Pfizer Animal Health is dedicated to improving the safety, quality and productivity of the worldâ€™s food supply by enhancing the health of livestock and poultry; and in helping companion animals live longer and healthier lives. For additional information on Pfizerâ€™s portfolio of animal products, visit www.PfizerAH.com.
DISCLOSURE NOTICE: The information contained in this release is as of April 23, 2008. Pfizer assumes no obligation to update any forward-looking statements contained in this release as the result of new information or future events or developments. This release contains forward-looking information about the agreement by Pfizer to acquire certain animal health products from Schering-Plough that involve substantial risks and uncertainties. Such risks and uncertainties include, among others, the satisfaction of the conditions to closing the agreement. A further list and description of risks and uncertainties can be found in Pfizerâ€™s Annual Report of Form 10-K for the fiscal year ended December 31, 2007 and in its reports on Form 10-Q and Form 8-K.