US pharmaceutical giant Pfizer will expand its line of drugs and therapies with the takeover of $17 billion Hospira.

The companies said, "The market for sterile injectables, injectable drugs which can treat a range of maladies from pain to cancer, will be about $70 billion in 2020. The world market for biosimilars, officially approved adaptations of off-patent drugs made by others, will hit $20 billion in 5-years."
Pfizer said, "Hospira’s product line strategically complements its own and will add a growing international revenue stream."
Pfizer chairman and chief executive Ian Read said, "Hospira’s business aligns well with our new commercial structure and is an excellent strategic fit for our Global Established Pharmaceutical business, which will benefit from a significantly enhanced product portfolio in growing markets."
Source-Medindia