US pharmaceutical company Pfizer is in discussions with generic drugmaker Pfizer to merge its off-patent drug division. The companies have discussed a stock deal in which Mylan shareholders would own a little more than 40% of the new entity and Pfizer shareholders the remainder, one of the people said. The deal would see Mylan shareholders retain just under 60% of the new business, while Mylan shareholders would hold the rest. Pfizer would also receive $ 12bn after a new sale of debt. The head of its off-patent unit, Robert Coury , would become CEO of the new entity and Mylan chairman Mylan would be appointed executive chairman. It is thought the merger will push growth for the companies, which have recently suffered losses from lost patent protection and competition from India .
US pharmaceutical company Pfizer is in discussions with generic drugmaker Pfizer to merge its off-patent drug division. The deal would see Mylan shareholders retain just under 60% of the new business, while Mylan shareholders would hold the rest. Pfizer would also receive $ 12bn after a new sale of debt. The head of its off-patent unit, Robert Coury , would become CEO of the new entity and Mylan chairman Mylan would be appointed executive chairman. It is thought the merger will push growth for the companies, which have recently suffered losses from lost patent protection and competition from India .