Pfizer Sells Hospira’s Infusion Therapy Business

by | Oct 4, 2016 3:22 pm | Pharmaceuticals

Way back in February 2015, Pfizer Inc. (NYSE: PFE) agreed to pay $17 billion to acquire Hospira, Inc., a global provider of injectable drugs and infusion technologies. In early October 2016, Pfizer agreed to sell Hospira’s infusion therapy business to ICU Medical Inc. (NASDAQ: ICUI) for $1 billion in cash and stock. The company develops, manufactures and sells medical devices used in infusion therapy, oncology and critical care applications. Pfizer will receive approximately $400 million in newly issued shares of ICU Medical common stock and $600 million in cash from ICU, for a total purchase price of approximately $1 billion. Upon completion, Pfizer will own approximately 16.6% of... Read More »