Pfizer Gets FTC Blessing To Buy Wyeth

Law360, New York (October 14, 2009, 5:25 PM EDT) -- Pfizer Inc.'s $68 billion acquisition of Wyeth Inc. will close Thursday after receiving clearance from the Federal Trade Commission.

The FTC said Wednesday it had approved the deal on the condition that Pfizer sell a portion of its animal health business to Germany's Boehringer Ingelheim.

Under the agency's proposed consent order, Pfizer must sell approximately half of Wyeth's Fort Dodge U.S. animal health business to Boehringer Ingelheim's Vetmedica Inc. within 10 days of the acquisition. Pfizer must also sell its horse vaccines to Boehringer.

The FTC...
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