Pfizer to acquire rival Wyeth for $68bn
US drug manufacturer Pfizer Inc will acquire rival Wyeth for $68bn, making it the largest pharmaceutical takeover deal in nearly a decade, the two companies announced early yesterday.
No. 1 drugmaker Pfizer Inc. said Monday it is buying No. 12 Wyeth for $68 billion in a deal that ultimately will wipe out nearly 20,000 jobs but quickly boost Pfizer's revenue and profit and transform it overnight into a medicine cabinet for all.