Pfizer Inc. is buying Baxter International Inc.'s marketed vaccines portfolio for $635 million.
The portfolio includes the NeisVac-C meningitis vaccine and the tick-born encephalitis vaccine FSME-Immun/TicoVac. Pfizer is also picking up a portion of Baxter's manufacturing facility in Orth, Austria. Pfizer says the deal adds depth and scale to its vaccine portfolio.
The move comes after Pfizer's failed attempt to acquire AstraZeneca plc earlier in 2014. Also in July, Pfizer agreed to buy InnoPharma, which makes generic, injectable drugs for $360 million. AstraZeneca, also on July 30, agreed to buy Almirall's lung medications for $875 million.
Credit Suisse Securities (USA) LLC acted as Pfizer's financial adviser, while Kirkland & Ellis LLP provided legal advice.