The U.S. Federal Trade Commission has cleared Pfizer Inc.’s plan to acquire Hospira for $90 a share. Pfizer said they expect the deal to close in September.
Hospira submitted a Biologics License Application (BLA) to the U.S. Food and Drug Administration (FDA) for Retacrit, a proposed biosimilar to Amgen’s Epogen (epoetin alfa) and Janssen’s Procrit (epoetin alfa).
Agencies require divestitures
To receive the clearance, the FTC is requiring Pfizer to divest four U.S. sterile injectable assets, including Acetylcysteine, Clindamycin, Voriconazole and Melphalan.
The European Commission granted approval Aug. 4, after requiring Pfizer to divest the development, manufacturing and marketing rights of its Infliximab biosimilar drug. Pfizer will keep the marketing rights for the drug outside of Europe, the Wall Street Journal reported.
“This is not just about keeping prices low for patients and health care services,” the EU’s antitrust chief Margrethe Vestager told the Journal. “We have also made sure that the merger of Pfizer/Hospira doesn’t stand in the way of the research and development of medication that could have huge benefits for society.”
The Canadian Competition Bureau granted approval Aug. 14, with respect to its pending acquisition of Hospira (NYSE: HSP). As part of its agreement with the Canadian Competition Bureau, Pfizer has agreed to sell the Canadian assets related to its marketed injectable cytarabine products, injectable epirubicin products, and oral tablet methotrexate products, as well as Hospira’s pipeline injectable voriconazole product.