On 30 September 2009 the ACCC accepted the undertaking of Pfizer Inc and Pfizer Australia Pty Ltd in relation to the ACCC's decision not to oppose Pfizer Inc's proposed acquisition of Wyeth Corp.
The undertaking provides for Pfizer to divest part of Wyeth's animal health business in Australia. Wyeth's companion animal vaccine business in Australia will be divested to Boehringer Ingelheim Vetmedica Inc. Pfizer has also agreed to divest some of Wyeth's livestock products and Wyeth's manufacturing facility in Penrith. The livestock business will be managed by an independent manager until the business is sold to a purchaser approved by the ACCC.
The undertaking aims to maintain competition through the creation or strengthening of an additional, viable, stand alone, independent and long term competitor in the relevant markets.
A Public Competition Assessment, outlining the reasons for the ACCC's decision, will be released shortly.
