November 2, 2020 – Mylan NV and Pfizer Inc. (New York, NY) announced that the U.S. Federal Trade Commission (FTC) accepted a proposed consent order, which concludes the FTC’s review of the proposed combination of Mylan and Pfizer’s Upjohn Business.
The parties have now obtained all required antitrust clearances for the proposed transaction.
Robert J. Coury, currently the executive chairman for Mylan, will serve as executive chairman for Viatris.
The combination will be effected through a Reverse Morris Trust transaction, pursuant to which Upjohn Inc. will be spun off to Pfizer’s stockholders by way of a pro rata distribution and immediately thereafter combined with Mylan.
Pfizer has set the close of business on November 13, 2020 as the record date for this proposed spin-off.
The combination is expected to close on November 16, 2020, at which time the combined company will be renamed Viatris Inc.