Mylan to merge with Pfizer's Upjohn, creating generics giant

A generics powerhouse worth some $20 billion in revenues is to be created by the merger of Netherlands-incorporated Mylan (Nasdaq: MYL) and the off-patent business of New York-based pharma giant Pfizer (NYSE: PFE).

Pfizer’s Upjohn unit, which promotes aging thoroughbreds such as Lipitor (atorvastatin) and Viagra (sildenafil), will complement Mylan’s portfolio of new generics and biosimilars.

The combined entity will enjoy an expanded global reach, with strong positions in China and other emerging markets, and will benefit from the synergy of Mylan’s R&D-focused pipeline, and Upjohn’s commercial and medical infrastructure.