DLA Piper has advised Pfizer on the US$635 million acquisition of commercial vaccines from Baxter, with the transaction closing successfully on 1 December 2014.
The deal included the meningitis prevention vaccine NeisVac-C and the well-known vaccine FSME-IMMUN/Ticovac. Furthermore, Pfizer acquired the production facility in Austria, where the two vaccines are manufactured.
The transaction was led by DLA Piper partners Christoph Mager and Elisabeth Stichmann, who also advised Pfizer already during the structuring of the acquisition.
Christopher said: “In most transactions, the majority of the consulting work takes place before the signing, after that it’s usually more about formalities, which are far less complex than the work that lead to the successful agreement and signing by the parties of the transaction. However, with this transaction it was quite different: Achieving the closing within the set time frame was a real challenge.”
Elisabeth added: “The special contract structure containing many intersection points to U.S. law as well as complex national and cross-border regulatory issues, required an experienced and well-structured team. We are pleased with our client Pfizer that the signing could be achieved as scheduled.”
Source: news.dlapiper.com
