Mylan Pharmaceuticals

This Dec. 4, 2017, file photo shows the Pfizer company logo at the company's headquarters in New York.
Richard Drew / AP Photo

This is a developing story and may be updated.

Mylan Pharmaceuticals and a division of Pfizer have announced a deal that will create a new pharmaceutical company expected to bring in $19 billion-$20 billion in annual revenue. 

According to a news release, Mylan and Upjohn, the Pfizer subsidiary, hosted a Monday morning conference call with investors.

West Virginia Attorney General Patrick Morrisey is shown Thursday, March 3, 2016, at the state Capitol in Charleston, W.Va.
John Raby / AP file photo

West Virginia has joined a federal lawsuit alleging generic drug manufacturers conspired to inflate and manipulate prices.

EpiPen, Mylan
Rich Pedroncelli / AP Photo

A pharmaceuticals company has laid off 15 percent of its workforce at a West Virginia manufacturing facility.

Mylan Pharmaceuticals released a statement Friday saying the "right-sizing" is consistent with discussions with the U.S. Food and Drug Administration to continue operations. Mylan spokeswoman Christine Waller tells The Dominion Post that around 500 positions have been cut, leaving the West Virginia workforce at around 3,000.