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Pfizer wins EU approval for $15b Hospira buy

Pfizer wins EU approval for $15b Hospira buy

BRUSSELS: US drugmaker Pfizer (PFE.N) gained European Union antitrust approval on Tuesday for its proposed $15 billion acquisition of U.S. rival Hospira (HSP.N) after pledging to sell some drugs to allay competition concerns.

The approval is conditional on Pfizer divesting certain sterile injectable drugs, as well as its infliximab biosimilar drug, which is currently under development,” the European Commission said.

The deal will boost Pfizer’s portfolio of generic injectable drugs and copies of biotech medicines.