Pfizer Gets Regulatory Approval In Australia For Pending Acquisition Of Hospira

(RTTNews) - Pfizer Inc. (PFE) announced that the Australian Competition and Consumer Commission or ACCC has approved the company's pending acquisition of Hospira Inc. (HSP) and found no need for remedies.

Completion of the transaction remains subject to the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, governmental and regulatory approvals in certain other jurisdictions and other usual and customary closing conditions.

"We continue to work cooperatively with the regulatory agencies to obtain the requisite approvals, and continue to expect the transaction to close in the second half of 2015." said Ian Read, chairman and chief executive officer, Pfizer.

In early February, Pfizer agreed to acquire Hospira for $15.23 billion in cash to improve the growth trajectory of its global established pharmaceutical business.