July 27, 2019 / 12:50 PM / 4 months ago

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

July 27 (Reuters) - Pfizer Inc is in talks to merge its off-patent drugs business with Mylan NV 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 here, 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

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