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Pfizer completes Wyeth takeover

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Pfizer completes Wyeth takeover

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Pfizer has completed its takeover of rival Wyeth making the world’s largest drugmaker even bigger.

US and Canadian competition regulators cleared the deal on Wednesday. Pfizer is predicting savings of 2.7 billion from the merger by the end of 2012. This is Pfizer’s third major acquisition in less than ten years. Increased debt from the deal meant its credit rating was reduced.