Pfizer

US-based drug maker Pfizer has completed the acquisition of marketed vaccines portfolio from Baxter International for $635m.

As part of the deal, Pfizer also acquired a portion of Baxter’s facility in Orth, Austria, where these vaccines are produced.

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The portfolio includes NeisVac-C, which helps protect against meningitis caused by group C meningococci (MenC) and FSME-IMMUN / TicoVac that helps protect against brain infection tick-borne encephalitis (TBE).

Pfizer Vaccines president Susan Silbermann said: "NeisVac-C and FSME-IMMUN / Ticovac are a strong fit with our vaccines business and this acquisition adds value, scale and depth to our existing portfolio of innovative vaccines.

"The portfolio includes NeisVac-C, which helps protect against meningitis caused by group C meningococci (MenC) and FSME-IMMUN / TicoVac that helps protect against brain infection tick-borne encephalitis (TBE)."

"These best-in-class products enable us to reach a broader population with vaccines that prevent infections from serious and often fatal diseases."

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According to Pfizer, FSME-IMMUN / TicoVac received approval in 30 countries and was marketed for more than 30 years, with 120 million doses produced since 1976.

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Both companies signed an agreement for the marketed vaccines at the end of July 2014.

Kirkland & Ellis acted as legal advisor to Pfizer, while Credit Suisse Securities (US) served as financial advisor for the company in the transaction.

MenC is a serious infection of the membrane covering the brain. It is one of the most prevalent meningococcal serogroups in many parts of the world, while TBE is an infection of the brain transmitted by the bite of ticks infected with the TBE virus.

Image: Pfizer world headquarters. Photo: courtesy of Jim.henderson.