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 deal, which hasn’t been completed, could be announced as early as Monday if an agreement is reached, the people said. In a statement, Pfizer’s chief executive, Ian Read, said: “While we are disappointed that our proposal was not accepted, it does provide us with additional flexibility and room for further investment as we continue to 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 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. In a statement, Pfizer’s chief executive, Ian Read, said: “While we are disappointed that our proposal was not accepted, it does provide us with additional flexibility and room for further investment as we continue to It is thought the merger will push growth for the companies, which have recently suffered losses from lost patent protection and competition from India.