BUSINESS Pfizer to combine off-patent drug business with Mylan: official

BUSINESS

Pfizer to combine off-patent drug business with Mylan: official

AFP

20:05, July 29, 2019

Pfizer announced Monday it will combine its off-patent drug business with the generic drugmaker Mylan to create a global leader in low-cost treatment, as drugmakers face intense political pressure to drive down prices in the United States.

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File photo: VCG

The new entity will be 57 percent owned by Pfizer shareholders, and 43 percent owned by Mylan's. Its portfolio includes Pfizer's impotence drug Viagra, cholesterol pills Lipitor, painkiller Lyrica and the emergency allergy treatment EpiPen, according to a statement.

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