Pfizer Acquisition Creates a New Pharmaceutical Giant

On June 19, 2000, Pfizer Inc. completed its acquisition of Warner-Lambert Company, creating one of the world’s largest pharmaceutical companies in a transaction valued at US$90 billion. The new Pfizer Inc. will produce both prescription and over-the-counter medications, and the parties will be able to streamline the advance of the 138 compounds in development in their complementary pipelines.

Clearance of the transaction through the Competition Bureau in Canada, as well as integration of the business operations of the parties’ Canadian subsidiaries is being undertaken by Philip Spencer, Q.C., Frank P. Monteleone, Barbara Kornovski and Stuart English of Cassels Brock & Blackwell LLP. Lawson Hunter, Q.C., D. Jeffrey Brown and Kim Alexander-Cook of Stikeman Elliott represented Warner-Lambert Company in connection with the clearance of the transaction.