August 4, 2015 / 3:40 PM / 2 years ago

Pfizer wins EU approval for $15 billion Hospira buy

The Pfizer logo is seen at their world headquarters in New York April 28, 2014. REUTERS/Andrew Kelly

BRUSSELS (Reuters) - U.S. drugmaker Pfizer (PFE.N) gained European Union antitrust approval on Tuesday for its proposed $15 billion acquisition of U.S. rival Hospira HSP.N after pledging to sell some drugs to allay competition concerns.

“The approval is conditional on Pfizer divesting certain sterile injectable drugs, as well as its infliximab biosimilar drug, which is currently under development,” the European Commission said.

The deal will boost Pfizer’s portfolio of generic injectable drugs and copies of biotech medicines.

(This story removes incorrect reference to deal being biggest for Pfizer)

Reporting by Julia Fioretti and Foo Yun Chee

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