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Home / Business / Mylan and Pfizer’s Upjohn unit merge date has been set

Mylan and Pfizer’s Upjohn unit merge date has been set



merge Pfizerof (New York Stock Exchange: PFE) Generic drug business Upjohn and Mai Lan (Nasdaq: MYL) The two companies have agreed to reach a consent order with the US Federal Trade Commission, so we will review it soon. Neither company provided detailed information about what they agreed to do to comply with the consent order.

Pfizer will divest Upjohn on November 13, and its shareholders will receive shares in the new company. Then, Upjohn will merge with Mylan immediately. The transaction is expected to be completed in three days, and the combined company will be renamed Viatris.

Pfizer’s shareholders don’t need to do anything-except to maintain shareholder status-to acquire shares in the new company. The exact number of Viatris in each Pfizer stock they will receive will be determined by the number of outstanding shares of Pfizer and Mylan at the end of the transaction. The ratio used will allow Pfizer shareholders to own 57% of Viatris, while Mylan shareholders will own 43% of Viatris.

shake hands

Image source: Getty Images.

The premise of the merger is that Upjohn’s global influence will accelerate the sales growth of Mylan drugs. In addition to generic drugs, Upjohn will also bring brand-name drugs with generic drug competitiveness, such as Lipitor, Xilere and Viagra.

The combined company will have more than 1,400 drugs that will be sold in more than 165 countries and regions. When the transaction was announced last year, the two companies estimated that Viatris’ annual revenue would be between US$19 billion and US$20 billion, with cash flow expected to exceed US$4 billion.




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