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500 Days Later: Every Step Of Mylan And Upjohn’s Merger Into Viatris

$12bn Deal Aiming For $1bn Of Synergies Launched 16 November

 
• By Dean Rudge

Viatris, the combination of Mylan and Pfizer’s Upjohn unit, launched on 16 November. The culmination of almost 16 months of work, the transaction faced many hurdles, not least the devastating effects of the novel coronavirus pandemic. Generics Bulletin has collated every step of the deal in chronological order, spanning its 476-day history.

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The merger of Mylan and Upjohn comprised many steps and obstacles, before completion on 16 November • Source: Shutterstock

Nearly 500 days after it was first announced, the deal to merge Mylan and Pfizer’s Upjohn off-patent and mature brands unit into Viatris has closed. The transaction overcame a swathe of regulatory approvals, which included a stinging rebuke from the US competition watchdog; a near $12bn round of financing necessary to separate Upjohn from its parent; and the fallout from a global pandemic that considerably stymied proceedings, adding nearly half a year to completion.

Mylan had offered clear indications that a significant – perhaps even transformative – deal was brewing. Eleven months before the proposed combination was announced, Mylan’s board of directors declared it was formally reviewing strategic alternatives for the company, claiming the stock price was undervalued

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