Allens Arthur Robinson has acted for pharmaceutical giant Pfizer in the divestment of its animal health products to Virbac, the world's largest veterinarian pharmaceutical company.
Divested assets include the Fort Dodge Australia livestock business and a biologicals manufacturing facility. Allens acted for Pfizer in relation to both divestments.
The ACCC required Pfizer to divest these assets following it $68 billion acquisition of Wyeth in October 2009 (in which Allens also acted for Pfizer).
The deal required a collaborative effort between the M&A, employment, tax, IP, property and environment teams at Allens. The team was led by partners Jeremy Low and Andrew Wiseman.
"These transactions were milestones for Pfizer in meeting its regulatory obligations and in ensuring a smooth transition to its new integrated businesses in Australia," Low said in a statement.