FTC approves $90 billion Pfizer, Warner-Lambert merger

Brigitte Greenberg

Tuesday, June 20, 2000 | 11:13 a.m.

WASHINGTON -- Federal regulators have approved a merger that will leave one company dominating many U.S. medicine cabinets.

The $90 billion merger of Pfizer Inc. and Warner-Lambert Co., approved Monday by the Federal Trade Commission, will put many of the world's best-known over-the-counter brands under one company name.

In addition to Halls, Benadryl, Sudafed, Listerine, Schick, Visine, Ben Gay, Lubriderm, Zantac and Cortizone, the company also will make two of the hottest-selling prescription drugs, the male impotence drug Viagra and the cholesterol-lowering medicine Lipitor.

The deal is expected to make the new Pfizer the largest pharmaceutical company in the world.

"This is a defining moment for Pfizer," said William C. Steere Jr., Pfizer chairman and chief executive officer. "Combining the two fastest-growing companies in the industry creates a global leader in the discovery of health and consumer products that will benefit millions around the world."