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Max Nisen

Congrats, Pfizer-Allergan, Now Get Divorced

A breakup is a no-brainer, and the market shouldn't be left in limbo.

The long-awaited, $160 billion Pfizer-Allergan mega-merger is finally here (for details, see the aspirationally named website premierbiopharmaleader.com). The deal won't officially close until some time next year, but it's not too soon to think about the mega-company's next deal: splitting into two smaller companies.

One of the new companies would focus on older products, the other on developing and selling new and innovative ones. A decision on such a breakup might not happen until the end of 2018, Pfizer CEO Ian Read said on an analyst call on Monday, because he wants to make sure the businesses perform well in the new structure before deciding to spin them off.