Pfizer to acquire Pharmacia

PFE will acquire PHA in a stock deal valued at $53.6 billion. The combined company is expected to have pro forma 2002 earnings of $11.9 billion on $47.9 billion in revenues, said PFE. The merged entity also will have up to 12 products with more than $1 billion in annual revenues each in areas such as cardiovascular, endocrinology, neurology, arthritis, oncology, infectious diseases, urology and ophthalmology. PFE said that 11 of these products have patent protection through 2010.

The deal also puts sales of Celebrex, a COX-2 inhibitor, under one roof - the product had been co-marketed by PHA and PFE. ...