DLA Piper has advised Pfizer on the acquisition of the commercial division of vaccines from Baxter. The deal, with a global volume of over US $600 million, has created a new division of Pfizer in the Austrian market.

Pfizer acquired a portfolio of two vaccines and the corresponding Austrian production facilities in Orth an der Donau. The two vaccines can protect against certain forms of meningitis, partially transmitted through tick bites. Following the completion of the transaction Pfizer will have its own production site in Austria.

The transaction team in Austria consisted of partner and Head of Corporate for DLA Piper in Austria, Christoph Mager and senior lead lawyer Elisabeth Stichmann.

Christopher said: "We are pleased to have been appointed to advise our long-standing client Pfizer on this important transaction. In addition to the very short timetable the complex structure of the deal was a challenge which our team has mastered perfectly."

Elisabeth added: "A new company was founded over the course of the transaction that eventually acted as purchaser and is expected to lead the Austrian production facility. It was very exciting to advise on this deal that is of huge importance for the Austrian subsidiary."

Internationally Pfizer was represented by US law firm Kirkland & Ellis, while Baxter was advised by Shiva Austin internationally and by Wolf Theiss in Austria. Tax advice was provided by Deloitte for Pfizer and PwC for Baxter.