Pfizer agrees to pay $15 billion for Hospira
Pfizer Inc. is buying Hospira Inc. for approximately $15.23 billion, saying it is a good fit with its established global pharmaceutical business. The buyout will also help Pfizer tap into the growing market for biosimilars, which are cheaper versions of biologic drugs that are used to treat conditions such as anemia. Hospira, based in Lake Forest, Ill., is a provider of injectable drugs and infusion technologies. It also offers biosimilars. The companies put the deal's value at about $17 billion including debt.
Verizon to sell part of land-line business
Verizon Communications will make almost $15 billion from selling part of its wireline business and leasing thousands of wireless towers. The largest U.S. cellphone carrier is selling its California, Florida and Texas wireline businesses, which serve telephone, TV and Internet customers, to Frontier Communications Corp. for $9.9 billion in cash. Frontier is also taking on $600 million in debt. Verizon said it wants to concentrate on the East Coast wireline business. American Tower Corp. will pay $5.06 billion to lease 11,300 wireless towers and buy 165 others.
Twitter shares jump after losses shrink
Twitter shares flew nearly 10 percent higher aftermarket, as the messaging service shrank losses and nearly doubled quarterly revenue by drawing more users and expanding its advertising offerings. The company had 288 million monthly users at the end of the quarter, less than expected but still up 20 percent from a year earlier. For the final three months of 2014, the San Francisco-based company had losses of $125.4 million, down sharply from a loss of $511.5 million, a year earlier. Revenue surged to $479.1 million from $242.7 million. Twitter's stock had closed before the report at $41.26. After the results, the stock jumped $3.79, or 9.2 percent, to $45.05.