Pfizer Completes Buyout of King Pharmaceuticals
Pfizer Inc., the world''s largest drugmaker, has completed its acquisition of King Pharmaceuticals Inc. for $3.6 billion, according to the Associated Press. In January, Pfizer completed the tender offer for Bristol, Tenn.-based King and said it would close the acquisition by the end of February. Pfizer agreed to buy King in October. Along with abuse-resistant pain drugs made by King, the deal gives Pfizer other products, including EpiPen, a pre-filled injection designed to quickly treat serious allergic reactions; Thrombin-JMI, designed to control bleeding; the Flector pain patch; and the pain drug Avinza.