Teva Pharma and Pfizer are in a merger that could boost Pfizer’s pharma profits.
The deal, which is valued at $14.4bn, is expected to be completed in the second quarter of 2019, after a two-year bidding process, the two companies said on Thursday.
The company said the deal would enable Pfizer to “continue its growth and expand its portfolio of products, including a range of therapeutic and investigational products for human therapeutics and human diagnostic diagnostics”.
Pfizer is in talks with Teva, which has a 30 per cent stake in the two-billion-dollar business.
The agreement will allow Pfizer “to continue its growth in the area of therapeutics in areas including immunotherapies, human therapeuticals and immunotherapeutics”, the company said in a statement.
Pfizers shares have fallen about 25 per cent since the start of the year.