Pfizer Receives Regulatory Approval In Canada For Pending Acquisition Of Hospira

(RTTNews) - Pfizer Inc. (PFE) announced that it was granted approval from the Canadian Competition Bureau with respect to its pending acquisition of Hospira (HSP). As part of its agreement with the Canadian Competition Bureau, Pfizer has committed to divest certain assets in Canada.

"We continue to work cooperatively with the regulatory agencies to obtain the requisite approvals, and continue to expect the transaction to close in the second half of 2015." said Ian Read, chairman and chief executive officer, Pfizer.

Completion of the transaction remains subject to governmental and regulatory approvals in certain other jurisdictions and other usual and customary closing conditions.

In early February, Pfizer agreed to acquire Hospira for $15.23 billion in cash to improve the growth trajectory of its global established pharmaceutical business.