Pfizer Acquires Danish Health Care CompanyPfizer Acquires Danish Health Care Company
February 7, 2011
NEW YORKPfizer Inc. (NYSE: PFE) entered into a definitive agreement to purchase Ferrosans consumer health care business, including dietary supplements and lifestyle products, from Altor 2003 Fund GP Ltd. Ferrosan, based in Copenhagen, Denmark, serves the Nordic region as well as parts of Central and Eastern Europe, and holds a portfolio of leading health care brands including Multi-tabs® multivitamins, Bifiform® probiotics, Fri Flyt/Active Omega, an omega-3 product, and IMEDEEN® premium oral skin care.
Ferrosan is an excellent strategic fit that strengthens our presence in dietary supplements with a new set of compelling brands and product pipeline," said Paul Sturman, president, Pfizer Consumer Healthcare. The transaction will mark an important step towards expanding Ferrosans brands through Pfizers global footprint. As an immediate result of this acquisition, we will gain greater distribution and scale for Pfizers well-known brands such as Centrum and Caltrate in Ferrosans regions."
Ola Erici, president of Ferrosan, said, We are very pleased that Ferrosans innovative portfolio of leading brands will be joining Pfizer. We expect that, as part of the Pfizer portfolio, our products will build on their industry-leading positions and become available in more countries around the world. And, at the same time, Pfizer will be able to leverage its footprint in key Ferrosan markets with new Pfizer products."
The transaction, which is subject to customary closing conditions, including regulatory approval in certain jurisdictions, is expected to close during the second quarter 2011. Financial terms were not disclosed.
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