Pfizer completes acquisition of Hospira

By Chris Swick
September 04, 2015

Hospira is now a subsidary of Pfzier, Inc.

Pfizer announced the completion of the purchase of Hospira Thursday, a deal worth roughly 15 billion dollars and puts the drug manufacturer in a leadership position in the large strerile injectables category, which Hospira produces.

“We are pleased that Hospira, the world’s leading provider of injectable drugs and infusion technologies and a global leader in biosimilars, is now part of Pfizer,” Ian Read, chairman and chief executive officer, Pfizer, said in a press release. “We want to welcome our new Hospira colleagues to Pfizer. We are excited to add their talents and proud of the shared commitment of all Pfizer colleagues to serving patients worldwide. We believe that through this transaction, we’ve created value for our shareholders by delivering incremental revenue and expected EPS growth in the near-term by strengthening our GEP business and positioning it for future growth.”

Stocks jumped up one percent to $32.29 after the announcement, with the expectation of $0.10 to $0.12 more a share to Pfizer's earnings after the first year following the close.

The company, who announced its intention to purchase Hospira in February, has assured that local Pfizer and Hospira entities will continue operating business as usual as separate legal entities, at least until local integration processes are completed.

Hospira employs 19,000 people, including around 1,500 in McPherson.