Pfizer Inc will separate its off-patent drugs business and merge it with Mylan ,...
), the two companies confirmed on Monday, bringing blockbuster treatments Viagra, EpiPen and Lipitor under one umbrella.
Mylan CEO Heather Bresch will retire after the deal closes and its Chairman Robert Coury will be the executive chairman of the new company. The Mylan deal is structured as an all-stock transaction, with each Mylan share to be converted into one share of the new company. Pfizer shareholders would own 57% of the combined new company and Mylan shareholders the rest, the companies said.
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