Pfizer Inc. is in talks to merge its off-patent drugs business with generic drugmaker Mylan NV, according to people familiar with the matter, in a deal that would create a giant global seller of lower-priced medicines. The deal, which hasn’t been completed, could be announced as early as Monday if an agreement is reached, the people said. 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. Pfizer...
US pharmaceutical company Pfizer is in discussions with generic drugmaker Mylan to merge its off - patent drug division . The deal would see Pfizer 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 , Michael Smith , would become CEO of the new entity and Mylan chairman Robert Smith would be appointed executive chairman . It is thought the merger will spur growth for the companies , which have recently suffered losses from lost patent protection and competition from competitors .