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Mylan, Pfizer to create new company

From The Charleston Gazette-Mail

The Mylan Plant in Morgantown, W.Va.

MORGANTOWN, W.Va. — Mylan, the generic pharmaceutical company that was founded in West Virginia and remains one of the state’s largest private employers, will be combined next year with a spinoff company from Pfizer, the nation’s largest drugmaker.

The new company, which has not been named, will combine Mylan’s generic drug business with Pfizer’s Upjohn, which sells one-time blockbuster drugs like Viagra, Lipitor, Xanax and Zoloft that have lost patent protection.

The complex deal, expected to close in the middle of next year, will create a company with estimated 2020 revenue in excess of $19 billion, with sales in more than 165 countries. …

Read more: https://www.wvgazettemail.com/business/mylan-pfizer-to-create-new-company/article_4422d431-0b8c-50ba-8841-3ae4bf672285.html

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