Pfizer shares gain over 3% as parent plans to buy Hospira
Shares of Pfizer rose by over 3 per cent as pharmaceuticals giant Pfizer Inc will acquire Hospira Inc, a leading provider of injectable drugs, infusion technologies and biosimilars.
By PTI | Updated:
MUMBAI: Shares of Pfizer rose by over 3 per cent as pharmaceuticals giant Pfizer Inc will acquire Hospira Inc, a leading provider of injectable drugs, infusion technologies and biosimilars, at a total enterprise value of $17 billion.
The stock ended the day with a gain of 2.88 per cent at Rs 2,015 on the BSE. During the day, it climbed 6.3 per cent to Rs 2,081.95.
At the NSE, it went up by 3.11 per cent to settle at Rs 2,018.
This is Pfizer's biggest acquisition after its failed $117 billion takeover bid for UK-based pharmaceuticals firm AstraZeneca in May last year.
The Boards of Directors of Pfizer and Hospira have unanimously approved the merger, Pfizer had said in a statement yesterday.
Under the deal, Pfizer will pay $90 a share in cash for a total enterprise value of approximately $17 billion.
The stock ended the day with a gain of 2.88 per cent at Rs 2,015 on the BSE. During the day, it climbed 6.3 per cent to Rs 2,081.95.
At the NSE, it went up by 3.11 per cent to settle at Rs 2,018.
This is Pfizer's biggest acquisition after its failed $117 billion takeover bid for UK-based pharmaceuticals firm AstraZeneca in May last year.
The Boards of Directors of Pfizer and Hospira have unanimously approved the merger, Pfizer had said in a statement yesterday.
Under the deal, Pfizer will pay $90 a share in cash for a total enterprise value of approximately $17 billion.
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