Pfizer to combine its off-patent drug unit with Mylan
Pfizer — Mylan’s manufacturing partner for its flagship EpiPen — is combining its off-patent drug business with the generic drugmaker, in a haircut designed to focus on the healthier parts of its business.
The transaction is expected to come in the form of a stock deal in which Mylan $MYL shareholders would own a little more than 40% of the new entity and Pfizer $PFE shareholders the remainder. Pfizer is also slated to receive about $12 billion in proceeds from a new sale of debt.
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