Reports: Pfizer, Wyeth said to be close to deal

NEW YORK: Drugmakers Pfizer and Wyeth are closing in on a deal worth $68 billion that could be announced before the markets open Monday, according to published reports.

Reports suggest that Pfizer, the maker of Lipitor and Viagra, is working to finish financing for the acquisition Sunday evening.

A deal would increase Pfizer's revenue by half and add strength in biotech drugs, vaccines and consumer products.

Sources at Pfizer could not be immediately reached for comment. A Wyeth spokesman said the company had no comment.

At $68 billion, a deal between New York-based Pfizer Inc and No 12 drugmaker Wyeth of Madison, New Jersey, would be slightly larger than the $66 billion Sanofi-Aventis merger from August 2004.