Following a public comment period, the Federal Trade Commission has approved an application by Pfizer Inc. to modify the FTC’s January 2010 final order, which settled the FTC’s competition concerns arising from Pfizer’s 2009 acquisition of Wyeth. The final order remedied the likely anticompetitive effects of the acquisition in numerous markets for animal health products, by requiring Pfizer to sell approximately half of Wyeth’s U.S.-based animal health business to FTC-approved buyers. It also included other requirements governing Pfizer’s future conduct.
Because Pfizer has since transferred all of its animal health business to Zoetis, Inc. and then divested all of its interest in Zoetis in 2013, it no longer holds any interest in the portions of Wyeth’s animal health business it retained following the 2010 divestitures. Also, Zoetis has certified its agreement to become a party to the FTC order, and to comply with all of its obligations. Accordingly, the FTC has approved Pfizer’s application to be released from the order.
The Commission vote to approve the application to modify the final order was 3-0. (FTC File No. 091 0053, Docket No. C-4267; the staff contact is Elizabeth Piotrowski, Bureau of Competition, 202-326-2623)
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