Pfizer acquires Warner Lambert in latest of megamergers

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In a deal that created the world's second-largest pharmaceutical company, Pfizer Inc bought Warner-Lambert Company in February for $90 billion in stock.

Bob Fauteux, a spokesman for Pfizer, said that although the increased revenue expected will result in research and development expansion, the merger will not affect the operations of Pfizer Animal Health. Pfizer purchased SmithKline Beecham's animal health business in 1995, the largest acquisition in Pfizer history at that time. Pfizer Animal Health sells products for more than 30 animal species to veterinarians, livestock producers, and horse and pet owners in more than 140 countries.

In December, Pharmacia and Upjohn Company merged with the Monsanto Company, and in January, Glaxo Welcome acquired SmithKline Beecham, resulting in the largest drug company merger ever.