Pfizer has completed its acquisition of Wyeth following the regulatory approval from all government authorities required by the merger agreement and approval by Wyeth shareholders. Under the terms of the transaction, each outstanding share of Wyeth common stock has been converted into the right to receive $33 in cash and 0.985 of a share of Pfizer common stock.

Pfizer and Wyeth will begin joint operations today. The integration of local Pfizer and Wyeth entities is subject to completion of various local legal and regulatory obligations.