Pfizer Completes Acquisition of Small Molecule Anti-Infective Business From AstraZeneca

NEW YORK–(BUSINESS WIRE)– Pfizer Inc. (NYSE:PFE) today announced that it has completed the
acquisition of the development and commercialization rights to
AstraZeneca’s late-stage small molecule anti-infective business,
primarily outside the United States. The agreement includes the
commercialization and development rights to the newly approved EU drug Zavicefta™
(ceftazidime-avibactam), the marketed agents Merrem™/Meronem™
(meropenem) and Zinforo™ (ceftaroline fosamil), and the clinical
development assets aztreonam-avibactam (ATM-AVI) and CXL. Zavicefta
specifically addresses certain multi-drug resistant Gram-negative
infections, including those resistant to carbapenem antibiotics, one of
the most significant unmet medical needs in bacterial infections treated
with hospital anti-infectives.

“The addition of AstraZeneca’s complementary small molecule
anti-infectives portfolio enhances our global expertise and offerings in
an increasingly important area of therapeutics that addresses the public
health needs of patients and healthcare professionals. Additionally this
acquisition is an example of how we are focusing our investments to
drive sustainable revenue growth potential for our Essential Health
business,” said John Young, group president, Pfizer Essential Health.

Working together for a healthier world®

At Pfizer, we apply science and our global resources to bring therapies
to people that extend and significantly improve their lives. We strive
to set the standard for quality, safety and value in the discovery,
development and manufacture of health care products. Our global
portfolio includes medicines and vaccines as well as many of the world’s
best-known consumer health care products. Every day, Pfizer colleagues
work across developed and emerging markets to advance wellness,
prevention, treatments and cures that challenge the most feared diseases
of our time. Consistent with our responsibility as one of the world’s
premier innovative biopharmaceutical companies, we collaborate with
health care providers, governments and local communities to support and
expand access to reliable, affordable health care around the world. For
more than 150 years, we have worked to make a difference for all who
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DISCLOSURE NOTICE: The information contained in this release
is as of December 23, 2016. Pfizer assumes no obligation to update
forward-looking statements contained in this release as the result of
new information or future events or developments.

This release contains forward-looking information related to Pfizer
and the acquisition of AstraZeneca’s small molecule anti-infectives
business by Pfizer that involves substantial risks and uncertainties
that could cause actual results to differ materially from those
expressed or implied by such statements. Forward-looking statements in
this release include, among other things, statements about the potential
benefits of the acquisition, anticipated growth rates, Pfizer’s plans,
objectives, expectations and intentions, the financial condition,
results of operations and business of Pfizer and AstraZeneca’s
late-stage small molecule anti-infectives portfolio. Risks and
uncertainties include, among other things, risks related to the ability
to realize the anticipated benefits of the acquisition, including the
possibility that the expected benefits from the acquisition will not be
realized or will not be realized within the expected time period; the
risk that the businesses will not be integrated successfully; disruption
from the transaction making it more difficult to maintain business and
operational relationships; negative effects of this announcement or the
consummation of the acquisition on the market price of Pfizer’s common
stock and on Pfizer’s operating results; significant transaction costs;
unknown liabilities; the risk of litigation and/or regulatory actions
related to the acquisition; other business effects, including the
effects of industry, market, economic, political or regulatory
conditions; future exchange and interest rates; changes in tax and other
laws, regulations, rates and policies; future business combinations or
disposals; the uncertainties inherent in research and development,
including, among others, the ability to meet anticipated trial
commencement and completion dates and regulatory submission dates, as
well as the possibility of unfavorable clinical trial results, including
unfavorable new clinical data and additional analyses of existing
clinical data; whether and when any drug applications may be filed in
any jurisdictions for ATM-AVI or CXL; whether and when regulatory
authorities may approve any such applications, which will depend on its
assessment of the benefit-risk profile suggested by the totality of the
efficacy and safety information submitted; decisions by regulatory
authorities regarding labeling and other matters that could affect the
availability or commercial potential of any of AstraZeneca’s late-stage
small molecule anti-infectives assets; the commercialization of
Zavicefta; and competitive developments.

A further description of risks and uncertainties can be found in
Pfizer’s Annual Report on Form 10-K for the fiscal year ended December
31, 2015 and in its subsequent reports on Form 10-Q, including in the
sections thereof captioned “Risk Factors” and “Forward-Looking
Information and Factors That May Affect Future Results”, as well as in
its subsequent reports on Form 8-K, all of which are filed with the U.S.
Securities and Exchange Commission and available at www.sec.gov
and www.pfizer.com.

The proposals set forth in this message are subject to compliance
with all local legal and regulatory obligations, including the
obligation to inform and or consult with labor organizations, works
councils, trade unions and employee representatives.

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