US group PFIZER (turnover USD 32.26 bn in 2001 with a staff of 59, 600 and market capitalisation of USD 201 bn) announced the acquisition of fellow-American company, PHARMACIA, (turnover USD 13.84 bn in 2001 with a staff of 90,000 and market capitalisation of USD 42 bn), ninth largest laboratory in the world and the result itself of a recent merger between MONSANTO and PHARMACIA & UPJOHN. Already the biggest drugs group in the world, PFIZER will consolidate its place as market leader with 10% market share throughout the world. The deal has been assessed as being worth USD 60 bn, with shares in PFIZER being offered at 1.4 of its shares for every PHARMACIA share. Before announcing the take-over, PHARMACIA will spin 84% of its shareholding in MONSANTO off to shareholders.