With Mylan deal, Pfizer seeks faster growth via innovation focus

Pfizer's decision to spin out its off-patent unit and merge it with Mylan will give investors greater optionality, as management expects the remaining pharma to be a smaller but faster-growing company focused more narrowly on innovative drugs. The transaction culminates a multiyear process in which Pfizer has contemplated various deals, restructurings and break-up scenarios to sharpen its focus on innovation.