 "Pfizer gets go ahead for merger with Wyeth from Bombay HC")
New Delhi: Drug firm Pfizer today said the Bombay High Court has approved the amalgamation of Wyeth Ltd with the company.
“The Hon’ble High Court of Judicature at Bombay on 31 October, 2014 considered and approved the amalgamation of Wyeth Ltd with the company…” Pfizer said in a filing to BSE.
In November last year Pfizer and Wyeth had said they will merge their India operations under a single brand as part of efforts to boost business. The operations would be unified under ‘Pfizer brand’, the companies had said.
In October 2009, Wyeth USA merged with Wagner Acquisition Corporation, a wholly-owned subsidiary of Pfizer Inc and consequent to this merger Wyeth Ltd became a subsidiary of Pfizer Inc in India.
Shares of Pfizer Ltd closed at Rs 1,637.40 per scrip, up 2.24 per cent, on the BSE.
PTI
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