OREANDA-NEWS. Pfizer Inc. (NYSE: PFE) today announced that it was granted approval from the Canadian Competition Bureau with respect to its pending acquisition of Hospira (NYSE: HSP). As part of its agreement with the Canadian Competition Bureau, Pfizer has committed to divest certain assets in Canada.

“We are pleased the Canadian Competition Bureau concluded its review of the transaction and approved the pending combination of Pfizer and Hospira,” said Ian Read, chairman and chief executive officer, Pfizer. “We continue to work cooperatively with the regulatory agencies to obtain the requisite approvals, and continue to expect the transaction to close in the second half of 2015.”

Completion of the transaction remains subject to governmental and regulatory approvals in certain other jurisdictions and other usual and customary closing conditions.

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At Pfizer, we apply science and our global resources to bring therapies to people that extend and significantly improve their lives. We strive to set the standard for quality, safety and value in the discovery, development and manufacture of health care products. Our global portfolio includes medicines and vaccines as well as many of the world's best-known consumer health care products. Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. Consistent with our responsibility as one of the world's premier innovative biopharmaceutical companies, we collaborate with health care providers, governments and local communities to support and expand access to reliable, affordable health care around the world. For more than 150 years, Pfizer has worked to make a difference for all who rely on us.