The global generic drug industry is poised for a big shakeup with Pfizer Inc. and Mylan NV announcing plans for Mylan to merge with Pfizer's Upjohn off-patent branded and generic medicines business, establishing the top generic drug company in the world based on consolidated revenues. The companies announced the merger on 29 July, a deal that will combine two slow-growing businesses in the challenging generic drug market.
Upjohn/Mylan: Will "Potential Moderate Growth" Lure Investors?
The combined company will have pro forma 2020 revenues of $19bn to $20bn, generate $1bn in synergies by 2023 and be led by Upjohn CEO Michael Goettler. Mylan's longtime CEO Heather Bresch will depart.
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