Pfizer Enters Into Agreement to Acquire Baxter’s Portfolio of Marketed Vaccines

  Pfizer Enters Into Agreement to Acquire Baxter’s Portfolio of Marketed
  Vaccines

Business Wire

NEW YORK -- July 30, 2014

Pfizer Inc. today announced that it has entered into a definitive agreement to
acquire Baxter International Inc.’s portfolio of marketed vaccines for $635
million. As part of the transaction, Pfizer will also acquire a portion of
Baxter’s facility in Orth, Austria, where these vaccines are manufactured.

Baxter’s portfolio of marketed vaccines consists of NeisVac-C and
FSME-IMMUN/TicoVac. NeisVac-C is a vaccine that helps protect against
meningitis caused by group C meningococcal meningitis (MenC). This serious
infection of the membrane covering the brain may be fatal in roughly 10-15
percent of patients^1 and 30 percent to more than 50 percent of survivors may
suffer from severe physical, social and mental damage^2. MenC is one of the
most prevalent meningococcal serogroups in many parts of the world and
vaccination with NeisVac-C has been shown to be highly effective.

FSME-IMMUN/TicoVac is a vaccine that helps protect against tick-borne
encephalitis (TBE), an infection of the brain, which is transmitted by the
bite of ticks infected with the TBE-virus. Every year, the TBE virus causes
thousands of cases of neuroinvasive illness in humans across Europe and Asia
and is a growing public health concern in Europe and other parts of the
world^3. FSME-IMMUN/TicoVac is approved in 30 countries and has been marketed
for over 30 years with approximately 120 million doses produced since 1976.

“Vaccines make a tremendous and valuable impact on public health around the
world. They have significantly reduced the threat of widespread and often
fatal diseases and every day people of all agesbenefit from safe and
effective vaccines,” said Susan Silbermann,Pfizer Vaccines President.“For
over a decadePfizer has been theglobal leader in pneumococcal disease
prevention. We are working hard to bringinnovative vaccines to market
thatprevent and treat serious diseases.Through this acquisition, wewill
addtwohigh-qualityand life-savingvaccines that bringscale and depth to
our portfolio.”

Pfizer does not expect this transaction to have an impact on its 2014
financial guidance issued on July 29, 2014. The transaction is subject to
customary closing conditions as well as regulatory approvals in several
markets, including some countries in the European Union, and is expected to
occur by the end of 2014. There are other closing conditions customary in a
transaction of this nature.

Pfizer’s legal advisor for the transaction was Kirkland & Ellis LLP and Credit
Suisse Securities (USA) LLC served as the financial advisor.

Sources:

^1 MMWR 2013; E-CDC report 2008-2009
^2 Stein-Zamir 2014; Borg 2009
^3 European Centre for Disease Prevent and Control. Epidemiological situation
of tick-borne, encephalitis in the European Union and European Trade Free
Association countries, Stockholm: ECDC; 2012

About Pfizer Inc.

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. To learn more, please visit us at www.pfizer.com.

DISCLOSURE NOTICE

The information contained in this release is as of July 30, 2014. Pfizer
assumes no obligation to update forward-looking statements contained in this
release as the result of new information or future events or developments.

This release contains forward-looking information about an agreement by Pfizer
to acquire Baxter’s portfolio of marketed vaccines and the potential benefits
thereof, as well as about the anticipated timing of the closing of the
transaction and its expected impact on Pfizer’s 2014 financial guidance, that
involves substantial risks and uncertainties that could cause actual results
to differ materially from those expressed or implied by such statements. Risks
and uncertainties include, among other things, risks relating to the
satisfaction of conditions to closing the transaction in the anticipated
timeframe or at all; the ability to realize the anticipated benefits of the
acquisition; other business effects, including the effects of industry,
economic, political or regulatory conditions; and competitive developments.

A further description of risks and uncertainties can be found in Pfizer’s
Annual Report on Form 10-K for the fiscal year ended December 31, 2013,
including in the sections thereof captioned “Risk Factors” and
“Forward-Looking Information That May Affect Future Results”, as well as in
its subsequent reports on Form 10-Q and Form 8-K, all of which are filed with
the SEC and available at www.sec.gov and www.pfizer.com.

The proposals set forth in this message are subject to compliance with all
local legal and regulatory obligations, including the obligation to inform and
or consult with labor organizations, works councils, trade unions and employee
representatives.

Contact:

Pfizer Inc.
Media:
Joan Campion, 212-733-2798
Joan.Campion@Pfizer.com
or
Investor:
Chuck Triano, 212-733-3901
Chuck.Triano@Pfizer.com
 
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