A proposed deal between Pfizer and Mylan, pharma giants which between them employ around 4,500 people across Ireland could see the spin out of blockbuster and profitable drugs Lipitor and Viagra into a separate company.

A proposed deal between Pfizer and Mylan, pharma giants which between them employ around 4,500 people across Ireland could see the spin out of blockbuster and profitable drugs Lipitor and Viagra into a separate company.

US-based Mylan yesterday offered to buy fellow drugmaker Perrigo whose headquarters are in Dublin for $28.9bn (€26.73bn), a deal that would create a powerhouse for generic medicine.