Under the deal, Pfizer will acquire a portion of Baxter’s facility in Orth, Austria, and will also have access to Baxter’s meningitis vaccine, NeisVac-C, and its encephalitis vaccine, FSME-IMMUN.
NeisVac-C is a vaccine which helps protect against meningitis caused by group C meningococcal meningitis (MenC) and FSME-IMMUN helps protect against tick-borne encephalitis (TBE), an infection of the brain transmitted by the bite of ticks infected with the TBE-virus.
Currently, the two vaccines are available outside the US, mainly in a number of European markets.
Pfizer Vaccines president Susan Silbermann said vaccines make a tremendous and valuable impact on public health around the world.
"They have significantly reduced the threat of widespread and often fatal diseases and every day people of all ages benefit from safe and effective vaccines," Silbermann said.
"For over a decade Pfizer has been the global leader in pneumococcal disease prevention. We are working hard to bring innovative vaccines to market that prevent and treat serious diseases.
"Through this acquisition, we will add two high-quality and life-saving vaccines that bring scale and depth to our portfolio."
Kirkland & Ellis is the legal advisor and Credit Suisse Securities (USA) served as the financial advisor for Pfizer in the transaction.
Image: Pfizer world headquarters. Photo: courtesy of Jim.henderson.