Viatris Announces Merger Completion and Unveils New Corporate Identity Following Combination of Upjohn and Mylan
Pfizer
Pharmaceutical R&D Developer
Mylan
Generic and Specialty Pharmaceutical Companies
Sina Medicine Latest News: On November 13, Pfizer Upjohn and Mylan announced that the merged company would be named Viatris (pronounced ‘viə-trīs’). The transaction is expected to be completed in mid-2020, at which point the company will operate under the name Viatris.
On July 29, 2019, Mylan and Pfizer announced the following definitive agreement: to combine Mylan with Upjohn, Pfizer’s off-patent branded and generic medicines business unit, to create a new global pharmaceutical company. Under the terms of the all-stock, Reverse Morris Trust transaction structure, each share of Mylan stock will be converted into one share of the new company. Pfizer shareholders will own 57% of the combined new company, while Mylan shareholders will own 43%. By combining two highly complementary businesses, the new company will transform and accelerate its ability to meet patient needs through their respective portfolios, expanding their presence in more than 165 markets.
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Mylan offers a diversified product portfolio, a robust pipeline, and high-quality manufacturing and supply chain capabilities across key therapeutic areas, including central nervous system and anesthesia, infectious diseases, and cardiovascular diseases.
Pfizer brings trusted, iconic brands such as Lipitor (atorvastatin calcium), Celebrex (celecoxib), and Viagra (sildenafil), along with proven commercialization capabilities, including leadership positions in China and other emerging markets.
This transaction will enable the new company to significantly expand the regional coverage of Mylan’s existing broad portfolio and its future product pipeline—including substantial investments in new growth markets where Upjohn currently possesses sales infrastructure and local market expertise, particularly in complex generics and biosimilars.