Pfizer, Wyeth deal gets clearance in China

September 29, 2009 10:31:50 AM PDT
Drug developer Pfizer says Tuesday China's ministry of commerce approved the company's $68 billion buyout of rival Wyeth. Pfizer will divest certain animal health assets in China, the New York company says.

The buyout deal still needs regulatory approval in the U.S., Canada, and Australia. The companies expect the deal to close during the fourth quarter.

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