Pfizer has received European Commission (EC) approval under the EU Merger Regulation the company’s pending acquisition of Wyeth. The Commission’s decision includes Pfizer’s commitment to divest certain animal health assets in the EU.
Additionally, the company has also announced that China’s Ministry of Commerce has extended its review of Pfizer’s regulatory submission beyond the initial thirty-day period.
Amy Schulman, senior vice president and general counsel of Pfizer, said: “We are pleased to have achieved another significant milestone for the pending acquisition with the EC’s approval of the transaction.
“We continue to work cooperatively with the regulatory agencies to obtain the requisite approvals, and continue to expect the transaction to close at the end of the third quarter or during the fourth quarter of 2009.”