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Home / Business / The date is set for consolidation between Mylan and Pfizer’s Upjohn Unit

The date is set for consolidation between Mylan and Pfizer’s Upjohn Unit



The consolidation of Pfizer‘S (NYSE: PFE) Trading in generic drugs, Upjohn, with Mylan (NASDAQ: MYL) will be approved soon, now the companies have agreed to the order with the US Federal Trade Commission. The companies did not provide any details about what they agreed to do to comply with that approval order.

On November 13, Pfizer will kill Upjohn and its shareholders will receive shares in the new company. Upjohn would then immediately fuse with Mylan. That deal is expected to end three days later, and the associated company will be renamed Viatris.

Pfizer shareholders won̵

7;t have to do anything – other than remain shareholders – to acquire shares in the new company. The exact number of Viatris shares they will receive per Pfizer share will be determined by the number of outstanding shares of Pfizer and Mylan at the close. The rate utilized would result in Pfizer’s shareholders owning 57% of Viatris, while Mylan’s shareholders would own 43%.

Hands tremble

Photo source: Getty Images.

The premise of the merger is that Upjohn’s ability to go global will accelerate Mylan’s drug sales growth. In addition to conventional drugs, Upjohn will also carry competitively-branded drugs, such as Lipitor, Celebrex, and Viagra.

The combined company will have a portfolio of more than 1,400 drugs that it will sell in more than 165 countries and territories. When the deal was announced last year, the companies expected Viatris’s annual sales to be between $ 19 billion and $ 20 billion with expected cash flows in excess of $ 4 billion.




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