Pfizer Commences Exchange Offers For Hospira Notes

NEW YORK--(BUSINESS WIRE)--Pfizer Inc. ("Pfizer") (NYSE:PFE) announced today that it has commenced offers to exchange any and all validly tendered and accepted notes of the following series issued by Hospira, Inc. ("Hospira"), our recently acquired subsidiary, for new notes to be issued by Pfizer as described in the table below. A Registration Statement on Form S-4 (the "Registration Statement") relating to the issuance of the Pfizer Notes (as defined below) was filed with the U.S. Securities and Exchange Commission (the "SEC") on September 3, 2015 but has not yet been declared effective.

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