Pfizer’s $68 billion buyout of Wyeth gets clearance in Australia, still awaiting US clearance

Pfizer, Wyeth deal gets clearance in Australia

NEW YORK — Drug developer Pfizer says the Australian Competition and Consumer Commission approved the company’s $68 billion buyout of rival Wyeth.

Pfizer will divest certain animal health assets in Australia, the New York-based company says.

The buyout deal still needs regulatory approval in the U.S. and Canada. The deal received Chinese regulatory approval Tuesday.