Shots:

• Pfizer plans to combine its off-patent drug business with Mylan with the formation of a new entity for the generic business. Post completion of the deal- Mylan will hold 40% of the shares and remaining will belong to Pfizer
• The merger will boost the sales of therapies which slowed due to loss of patent protection and began facing lower-priced competition. Additionally- Pfizer would receive $12B in proceeds from a new sale of debt
• Pfizer’s off-patent drug includes Lipitor cholesterol pills and Viagra (the male impotence drug)- Mylan’s EpiPen is an auto-injector for injecting a measured dose of epinephrine used to treat anaphylaxis

Click here to­ read full press release/ article | Ref: The Wall Street Journal | Image: Emaze