Pfizer Acquires King Pharmaceuticals to Add Pain Drugs

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Oct. 12 (Bloomberg) -- Pfizer Inc. agreed to pay $3.6 billion in cash to buy King Pharmaceuticals Inc., expanding its range of pain treatments to include tamper-resistant medicines. Pfizer, the world’s largest drugmaker, will pay $14.25 a share, a premium of 40 percent over King’s closing share price yesterday, the New York-based company said today in a statement. Bloomberg's Shannon Pettypiece talks with Betty Liu about the transaction on Bloomberg Television's "In the Loop." (Source: Bloomberg)

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