Pfizer Buys In Italy
Pfizer Italiana is taking over the Italian company Bioindustria Farmaceutici. Under a preliminary agreement between the US firm and the Caraccia family (owners of BF), all of BF's pharmaceutical operations in both the prescription and over-the-counter sectors, will in time be ceded to Pfizer, along with the sales network.
The deal specifically excludes workforce cuts. Initially, BF will operate under a production agreement with Pfizer. Subsequently, a new firm, Bioindustria Lim, will be formed.
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