Spinoff Report
New Spin: Upcoming JV and Acquisition-Spin Leaves PFE More Nimble Than Ever
In July 2018, Pfizer, Inc. (PFE) announced the reorganization into three business segments, which we believed would lead to Spinoffs down the road. PFE followed this up in January 2019 with a Consumer Healthcare JV (later to be listed) with GlaxoSmithKline Plc (GSK LN). Last week (July 29, 2019), PFE announced it will acquire Mylan NV (MYL) and combine it with its Upjohn generics segment, which will then be Spun off as a combined entity, effectively trimming PFE down to its patented drugs.

  • Reorganization in 2018 Established Three Operating Segments / Analysis Here on Potential Break-Up
  • Consumer Healthcare Joint Venture with GSK LN Following Failed Sale of Segment / Announcement Details Here
  • Newly Announced All-Stock Takeover of Mylan NV (MYL) & Combination with Upjohn Generics Segment
  • PFE Shareholders Own 57% of Combined-Spun Company / MYL Shareholders Own 43% / PFE Paid $12bn in Proceeds
  • Spinoff Expected to Complete in Mid 2020 / PFE Enters the Upcoming US Spinoffs Calendar
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