Pfizer to buy Wyeth for $68 billion (Reuters)

Jeffrey Kindler (L), Chairman and CEO of Pfizer, and Bernard Poussot, Chairman and CEO of Wyeth, shake hands after a news conference announcing the merger of the two companies in New York, January 26, 2009. (Brendan McDermid/Reuters)Reuters – Pfizer Inc said Monday it will acquire rival U.S. drugmaker Wyeth for $68 billion to soften the blow of losing its biggest product to generic competition, but a dividend cut and large debt financing concerned investors.

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