Donny Kwok
Reuters
05/31/2010
Pfizer Inc, the world’s biggest drugmaker, is selling its swine vaccine business in China to Harbin Pharmaceutical Group for $50 million, a source with direct knowledge of the deal said on Monday.
A spokeswoman from Pfizer’s Singapore office confirmed the divestment of its China swine vaccine business to Harbin Pharmaceutical but gave no details on the value of the deal or further comments.
“Pfizer did indeed divest,” the spokeswoman said.
Harbin Pharmaceutical officials were not immediately available for comment.
The disposal was required by the Anti-Trust Bureau of China’s Ministry of Commerce as a condition for approval of Pfizer’s $68 billion merger with Wyeth, which closed last October, said the source, speaking on condition of anonymity because the deal had not been officially announced.
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