Pfizer Overseas Inc. and Pfizer Pty Limited - s.87B undertaking

Pfizer Pty Ltd proposes to merge with Pharmacia Australia and Pharmacia (Perth) Pty Limited , as part of a worldwide acquisition of Pharmacia by Pfizer Inc. The ACCC examined the proposed merger and formed the view that it would result in a substantial lessening of competition in the Australian market for cattle progesterone delivery services, in which both companies have competing products.

Pfizer Overseas Inc and Pfizer Pty Ltd provided a section 87B Undertaking to the ACCC in respect of the divestiture of its CueMate cattle progesterone drug delivery business (including relevant intellectual property rights).

The company has undertaken to divest the CueMate business by publicly inviting expressions of interest and clearing potential purchasers with the ACCC, so that the business is purchased by an independent and viable entity capable of conducting the business as a vigorous and effective competitor.