When you linking your Twitter Account Market Wire News Trending Stocks news and your Portfolio Stocks News will automatically tweet from your Twitter account.
Be alerted of any news about your stocks and see what other stocks are trending.
TEVA - Teva Mylan: Desperate Times Call For Desperate Measures
Teva Pharmaceutical Industries Limited American Depositary Shares
Background
Pfizer (PFE) is spinning off its Upjohn unit and combining it with generic drugmaker Mylan (MYL) to create a giant off-patent group with global annual revenues worth about $20 billion.
The all-stock deal will unite former branded blockbusters like Lipitor and Viagra with Mylan’s pipeline of new generics and biosimilars, expanding their reach into China and other emerging markets.
The deal would result in Mylan owning ~43% of the merged organization and Pfizer owning ~57%. Pfizer would also receive ~$12B in proceeds from the new sale of debt.