Pfizer to buy AstraZeneca's antibiotics biz: Report
American drugmaker Pfizer has agreed to buy AstraZeneca's antibiotics business for more than $1.5 billion, reports claimed. Pfizer will make an upfront $550 million payment when the deal is completed towards the year end and a further $175 million in January 2019, apart from other payouts. Notably, AstraZeneca had repelled a $120 billion takeover approach from Pfizer in May 2014.