Pfizer rises on entering into business transfer agreement with Mylan Pharmaceuticals
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Pfizer is currently trading at Rs. 5608.75, up by 36.55 points or 0.66% from its previous closing of Rs. 5572.20 on the BSE.
The scrip opened at Rs. 5600.00 and has touched a high and low of Rs. 5650.00 and Rs. 5573.20 respectively. So far 865 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 6164.80 on 08-Sep-2021 and a 52 week low of Rs. 4200.00 on 24-Feb-2021.
Last one week high and low of the scrip stood at Rs. 5760.05 and Rs. 5510.00 respectively. The current market cap of the company is Rs. 25715.94 crore.
The promoters holding in the company stood at 63.92%, while Institutions and Non-Institutions held 16.90% and 19.17% respectively.
Pfizer has entered into a business transfer agreement with Mylan Pharmaceuticals to transfer certain primarily off-patent branded and generic established medicines business (Upjohn business) as a going concern to Mylan for a consideration of Rs 180.48 crore. The Upjohn Business comprises six brands which include Lyrica, Viagra, Celebrex, Amlogard, Daxid and Dilantin. These along with related business assets and liabilities will transition to Mylan.
Pfizer has produced innovative breakthroughs in a wide range of research areas, including depression, erectile dysfunction, high cholesterol, HIV infection, hypertension, bacterial infections and systemic fungal infections.
