Pfizer has completed the sale of its Capsugel business to an affiliate of Kohlberg Kravis Roberts & Co. (KKR), following the receipt of required regulatory clearances, including in the U.S. and the European Union. Under the terms of the previously announced agreement, KKR acquired Capsugel for $2.375 billion in cash.

Pfizer's financial advisors for the transaction were Morgan Stanley & Co. and Guggenheim Securities. Cadwalader, Wickersham & Taft and White & Case acted as legal counsel for Pfizer. Simpson Thacher & Bartlett acted as legal counsel for KKR.