Pfizer Inc. announced the completion of the acquisition of King Pharmaceuticals Inc. for $14.25 per share, or $3.6 billion. The deal provides Pfizer a new specialty business in pain treatments, including King's role as a critical supplier to the U.S. Department of Defense, and combines Pfizer Animal Health with King's Alpharma Animal Health, solidifying Pfizer's position as the largest animal health company in the world.
Pfizer has a broad platform in livestock, poultry, companion animal and equine drugs, and the merger adds Alpharma's specialties in feed additives and medicines for disease prevention and treatment. Pfizer Animal Health sales will exceed $4 billion per year.
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