Pfizer, Wyeth Announce Official Plans to Merge

January 28, 2009 — 

Pfizer Inc. has announced plans to acquire Wyeth for $50.19 per share -- a blockbuster deal that values Wyeth at $68 billion and creates the world's largest pharmaceutical company, with initial sales totaling $71.13 billion.

The deal also combines Pfizer Animal Health and Wyeth's Ft. Dodge Animal Health business, creating the world's largest animal health company, with initial sales totaling $3.913 billion, based on both companies' 2008 financial results that were also reported this morning.

Source: Feedstuffs/ News, Jan. 26, 2009