Files order with the Registrar of Companies to conclude the merger process
Pfizer announced the completion of the merger with Wyeth. The company had received approvals from the Bombay High Court earlier and has filed the order with the Registrar of Companies to conclude the merger process. The merger places Pfizer among the top 10 pharmaceutical companies in India by market share. Pfizer,USA, through its subsidiaries holds the majority stake in both companies and will continue to remain the majority shareholder with an approximate 63.9 per cent holding in Pfizer, post-merger.
As a result of the merger, Pfizer now has a significantly stronger portfolio of offerings across a wider therapeutic universe. Importantly, the company now debuts its offering in vaccines with India’s largest vaccine brand and builds a robust presence in the areas of women’s health with a portfolio that includes some of the best known brands in oral contraception and folic acid supplements.
With the conclusion of the process, all employees of Wyeth are also now a part of Pfizer. The company has already completed the necessary steps to ensure a seamless transition and integration of the workforce into Pfizer.
EP News Bureau – Mumbai