Fitch assigns A+ to Pfizer notes

Fitch Ratings said it assigned an A+ to Pfizer Inc.'s senior unsecured notes offering, which will be used to exchange Hospira's 2017, 2020, 2023 and 2040 senior unsecured notes.

The outlook is stable.

The $17 billion acquisition of Hospira adds to Pfizer's global established pharmaceutical (GEP) business, particularly in the area of sterile injectable drugs and biosimilars, Fitch said. Both areas offer value-added margins and growth opportunities within the generic pharmaceutical/biopharmaceutical space, given the relative complexity involved in developing and manufacturing such products. Conversely, the process for small-molecule drugs is relatively more straightforward and commoditized.

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