Pfizer's most expensive acquisitions

By Sumit Modi

Pfizer, one of the world’s largest pharmaceutical companies, has made many strategic acquisitions and mergers to ensure it retains its status.

 

Following the news that the American giant is buying cancer drug company Medivation for $14 billion, here are some of Pfizer’s most expensive deals to date:

King Pharmaceuticals, $3.6 billion

Pfizer acquired King Pharmaceuticals in 2010. It was previously the 39th largest pharmaceutical company in the world in its own right, but is now wholly-owned by Pfizer. The acquisition was intended to expand Pfizer’s pain relief offering, with King’s EpiPen and line of animal health products making the deal more attractive.

Hospira, $15.2 billion

Hospira was acquired by Pfizer in 2015. It is the largest manufacturer of generic injectable medications in the world, producing both pharmaceuticals and devices. Hospira shareholders received $90 cash per share. Including debt, the deal amounted to around $17 billion.

Wyeth, $68 billion

Pfizer’s acquisition of Wyeth was over a year in talks before an agreement was reached in 2009. The merger generates over $20 billion cash each year, and ensured that Pfizer became the largest pharmaceutical company in the world. Wyeth produced some of America’s most-used over-the-counter and prescription drugs, making it an appealing purchase.

Warner-Lambert, $90.2

Pfizer’s most expensive acquisition thus far is that of Warner-Lambert in 2000. Warner-Lambert grew from a combination of William R. Warner, who invented an invaluable tablet-coating process, and the Lambert Pharmacal Company, which makes Listerine. A number of tactical acquisitions later – including Parke-Davis and Wilkinson Sword – and Warner-Lambert was a global competitor. Pfizer bought the company along with all of its subsidiaries, expanding its worldwide impact.

 

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