Pfizer Wins FTC OK to Acquire Pharmacia
From Bloomberg News
Pfizer Inc., the world’s largest drug maker, won Federal Trade Commission approval for its $58-billion purchase of Pharmacia Corp.
Pharmacia Chief Executive Fred Hassan won’t take the vice chairman’s post at Pfizer, as originally planned, Pfizer said. Investors have speculated that Hassan will become the next CEO of rival drug maker Schering-Plough Corp.
Pfizer shares rose 61 cents to $32.12, Pharmacia shares gained $1.11 to $45 and Schering-Plough climbed 57 cents to $17.39, all on the NYSE.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
