Skip to main content
Premium Trial:

Request an Annual Quote

Pfizer Finally Acquires Warner-Lambert in $90 B Deal, Forms No. 2 Pharma



EW YORK--After a three-month chase, Pfizer will acquire Warner-Lambert by putting up about $90 billion of its stock to create what will be the second largest drug company in the world behind the planned merger of SmithKline Beecham and Glaxo Wellcome. Pfizer managed to force out the original suitor, American Home Products, which still managed to take home a $1.8 billion breakup fee. The combined R&D operations of the company, headed by Pfizer vice-chairman John Niblack, will have a worldwide scientific staff of over 12,000 and $4.7 billion in annual R&D expenditures in 2000, the largest in the industry, said the companies. Pfizer chairman and chief executive William Steere said the combined company’s R&D investments will "redefine" spending in the industry, according to a Dow Jones Newswire report. "This level of spending is extraordinary, but it’s the sort of spending that has to be done these days, especially with the decoding of genomes," he said.

Filed under

The Scan

Pig Organ Transplants Considered

The Wall Street Journal reports that the US Food and Drug Administration may soon allow clinical trials that involve transplanting pig organs into humans.

'Poo-Bank' Proposal

Harvard Medical School researchers suggest people should bank stool samples when they are young to transplant when they later develop age-related diseases.

Spurred to Develop Again

New Scientist reports that researchers may have uncovered why about 60 percent of in vitro fertilization embryos stop developing.

Science Papers Examine Breast Milk Cell Populations, Cerebral Cortex Cellular Diversity, Micronesia Population History

In Science this week: unique cell populations found within breast milk, 100 transcriptionally distinct cell populations uncovered in the cerebral cortex, and more.