Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.
BREAKING NEWS

Pfizer in talks to merge off-patent drugs business with Mylan

Pfizer in talks to merge off-patent drugs business with Mylan
FILE PHOTO: The logo of U.S. pharmaceutical corporation Pfizer Inc. is seen at a branch in Zurich, Switzerland October 2, 2018. REUTERS/Arnd Wiegmann -
Copyright
Arnd Wiegmann(Reuters)
Euronews logo
Text size Aa Aa

(Reuters) – Pfizer Inc <PFE.N> is in talks to merge its off-patent drugs business with Mylan NV <MYL.O> in a stock deal, the Wall Street Journal reported on Saturday, citing people familiar with the matter.

Mylan shareholders would receive a little more than 40% of the newly formed entity, with Pfizer shareholders receiving the remainder, the Journal said, adding Pfizer would also get about $12 billion in proceeds from a new sale of debt.

Pfizer and Mylan did not immediately respond to requests for comment.

(Reporting by Maria Ponnezhath in Bengaluru; Editing by Mark Potter)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.