02.02.2011

Pfizer announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) has been terminated in connection with the tender offer by its subsidiary, Parker Tennessee, to purchase all outstanding shares of common stock of King Pharmaceuticals for $14.25 per share, net to the seller in cash, without interest thereon and subject to any required withholding taxes.

Termination of the waiting period under the HSR Act satisfies one of the conditions necessary for the consummation of the tender offer. The tender offer is scheduled to expire at 5 p.m., New York City time, on Friday, January 28, 2011, unless extended in accordance with the procedures described in the offer to purchase. All other authorizations and approvals applicable to the tender offer under foreign antitrust or competition laws have also been obtained.

The tender offer remains conditioned upon the other closing conditions described in the offer to purchase. Pfizer and King expect that all of the conditions to the tender offer will be satisfied on or before the scheduled expiration.

Pfizer is a provider of solutions and services to improve health and well-being at every stage of life.