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Mylan-Pfizer combo to tackle generics market; Hong Kong healthcare IPOs delayed

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Mylan CEO Heather Bresch holds up EpiPens while testifying before Congress in 2016. The combination of Mylan with Pfizer Inc.'s Upjohn division could create the largest generic-drug
seller in the pharmaceutical industry.

Source: The Associated Press

Mylan NV is joining forces with Pfizer Inc.'s Upjohn division as it seeks to navigate the pricing and quality concerns plaguing the generic-drug industry.

The merger comes after several years of lagging sales for Mylan and failed attempts to right the ship, a phenomenon seen with other top generic-drug companies. The deal also builds on a trend of struggling drugmakers doing megadeals this year to stave off sales declines and diversify product portfolios.

The combination of Mylan and Upjohn — home to Pfizer's off-patent drugs like Viagra and Lipitor — would propel the new company beyond Teva Pharmaceutical Industries Ltd. to become the largest generics seller.

While some believe the new company could bring cost efficiency to the generics marketplace, others have taken issue with the merger.

Peter Maybarduk, director of the nonprofit consumer advocacy group Public Citizen's Access to Medicines Program, called on the U.S. Federal Trade Commission to block the merger.

Maybarduk called the deal "anti-consumer" and suggested that it would stymie competition among generic drugs.

"Mylan competes on two-thirds of the medicines that Upjohn sells," Maybarduk said in a statement. "Equally important, a merger of two of the largest generic manufacturers would eliminate potential future competition in the generics sector."

Story: Mylan-Pfizer join up to tackle generics pricing squeeze, quality concerns

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Story: Hong Kong healthcare IPOs face delays amid growing market concerns

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