King’s three key businesses are not only complementary to Pfizer’s businesses, but are also strategically aligned with Pfizer’s Primary Care, Established Products and Animal Health business units, enabling a combination that will maximise King’s assets with Pfizer’s global organisation’s scale and resources.
The strategic combination will allow Pfizer to leverage its existing commercial capabilities and expertise to create a broad portfolio for pain relief and management in the biopharmaceutical industry, offering both currently marketed opioid and non-opioid products, as well as a pipeline spanning stages of clinical development.
Pfizer chairman and CEO Jeffrey Kindler said that the combination of their respective portfolios in pain relief disease area of unmet medical need is highly complementary and will allow them to offer a fuller spectrum of treatments for patients across the globe who are in need of pain relief and management.
"In addition, the revenue generated by King’s portfolio will further diversify Pfizer’s business, while at the same time contributing to steady earnings growth and shareholder value," Kindler said.
King chairman and CEO Brian Markison said that by bringing together King’s capabilities in new formulations of pain treatments, designed to discourage common methods of misuse and abuse, with Pfizer’s commercial, medical and regulatory expertise, global strength in patient services and reimbursement, and global scale and resources, we believe Pfizer can build on our foundation and take our business to the next level.