As reported by CNBC, Pfizer is set to combine its off-patent drug business with Mylan– a generic drugmaker.
Pfizer shareholders would own 57% of the combined new company and Mylan shareholders would own 43%.
“Combined company, which will sell Mylan’s EpiPen and Pfizer’s Viagra, will be domiciled in the U.S. The deal will be structured in what’s known as a reverse Morris trust, with Pfizer’s Upjohn business divested and then combined with Mylan.”
It has been further reported that, New Pfizer venture will focus on drugs where exclusivity has expired. It will combine generic medicines, often made by different companies than the original drug, with off-patent drugs, which Pfizer used to sell as key brands before their patent protection ended.
[Source: CNBC]
[Image Credits: Financial Express]