Mylan CEO Heather Bresch will retire: The company's stock is down 76 percent since 2015, amid scrutiny of its price increases on the EpiPen.
Pfizer, the world’s largest drugmaker, plans to divest its off-patent drug business and combine it with generic-drug maker Mylan.
The 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. Pfizer investors are more mixed on the deal, according to Holz, who said he’s received feedback from shareholders since the Journal’s first report Saturday morning,
The new company will be helmed by Pfizer’s Michael Goettler, currently president of the Upjohn business. Mylan Chairman Robert Coury will be executive chairman, and Mylan CEO Heather Bresch will depart.
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