Pfizer to Acquire Vaccines from Baxter

Pfizer announced an agreement to acquire Baxter International?s marketed vaccines for $635 million.

Pfizer Inc. announced that it has entered into a definitive agreement to acquire Baxter International Inc.’s portfolio of marketed vaccines for $635 million. As part of the transaction,

Pfizer will also acquire a portion of Baxter’s facility in Orth, Austria, where these vaccines are manufactured.

Baxter’s portfolio of marketed vaccines consists of NeisVac-C and FSME-IMMUN/TicoVac. NeisVac-C is a vaccine that helps protect against meningitis caused by group C meningococcal meningitis (MenC). FSME-IMMUN/TicoVac is a vaccine that helps protect against tick-borne encephalitis (TBE), an infection of the brain, which is transmitted by the bite of ticks infected with the TBE-virus.

In a statement, Pfizer reproeted that the company does not expect this transaction to have an impact on its 2014 financial guidance issued on July 29, 2014. The transaction is subject to customary closing conditions as well as regulatory approvals in several markets, including some countries in the European Union, and is expected to occur by the end of 2014.

Source: Pfizer