Pfizer acquires King Pharma

As per the terms of the transaction, each outstanding share of King Pharma common stock has been converted into the right to receive $14.25, net in cash (without interest and less any required holding taxes).

Before merger, Parker Tennessee acquired approximately 92.5% of the outstanding King Pharma shares through a tender offer.

Pfizer president and CEO Ian Read said with the addition of King’s talented colleagues and products and technology, Pfizer will offer patients who are in need of pain relief and pain management a broader spectrum of treatment options.

"Pfizer’s expanded portfolio also includes King’s Meridian auto- injector business for emergency drug delivery, which develops and manufactures the EpiPen, and its Alpharma animal health business, both of which are complementary to and aligned with Pfizer’s existing businesses," Read said.