Drug major Pfizer announced completion of the merger with pharmaceutical company, Wyeth. The merger places Pfizer among the top ten drug companies in India by market share. As a result of the merger with Wyeth, Pfizer now has a significantly stronger portfolio of offerings across a wider therapeutic universe.
Pfizer Inc, USA, through its subsidiaries holds the majority stake in both companies and will continue to remain the majority shareholder with around 63.9 per cent holding in Pfizer post-merger.
The company has debuted offering in vaccines segment and has planned to build a robust presence in areas of women's health with best known brands in Oral contraception and folic acid supplements. Pfizer reported a standalone loss of Rs 11.83 crore for the second quarter of current fiscal as compared to net profit of Rs 69.45 crore for same quarter of previous fiscal.
