The American groups PFIZER and WARNER-LAMBERT have officialised their merger, creating the world's number two pharmaceutical firm with turnover of USD 28 billion and stock market capitalisation of USD 230 billion, behind the recently merged British groups GLAXO WELLCOME and SMITHKLINE BEECHAM (see EI of 17 & 18 January). The transaction will take place via a share swap, with PFIZER offering 2.75 shares for one WARNER-LAMBERT share, in a transaction worth USD 90 billion. See, among others, EI...