Signalling its intent to spin off its global established products(GEP) division in 2017, Pfizer has agreed to acquire Hospira, the market leader in the generic injectables segment, in a deal that values the company at approximately US$17 B inclusive of net debt. The acquisition will provide a significant revenue boost to Pfizer’s GEP division and give the company a strong position in the global biosimilars market. Hospira is the only US company marketing biosimilars in Europeand is likely to be among the early entrants to the US biosimilars market.