Pfizer to sell infusion business to ICU Medical, take stake
Pfizer Inc said on Thursday it would sell its global infusion therapy business to ICU Medical Inc for $1 billion in cash and stock that will give it a major stake in the smaller company. Pfizer had acquired the hospital infusion system business, which has annual sales of about $1.2 billion, through its $15 billion purchase in September 2015 of Hospira, which sells generic hospital products and is developing biosimilars meant to compete with big-selling biotech drugs.
