Mylan Will Acquire Pfizer Technology

Mylan will acquire the rights to develop Pfizer’s generic equivalent to GlaxoSmithKline’s Advair Diskus and Seretide Diskus inhaler-based asthma drugs. Mylan will pay Pfizer $17.5 million plus additional payments contingent on regulatory and commercial success. In connection with the deal, Mylan will hire select employees from the former Pfizer respiratory inhalation development team based in Sandwich, England, where Mylan will set up a respiratory development division. Mylan says the deal expands its focus on difficult-to-produce, limited-competition products.