Pfizer’s Upjohn Off-Patent Drug Business to Merge with Mylan to Form a New Pharmaceutical Company

Shots:

• Pfizer’s is expected to spin-off Upjohn and combine with Mylan in all-stock Reverse Morris Trust transaction, with each Mylan share to be converted into one share of the new company. Pfizer will hold 57% share while Mylan will hold 43% share of the newly formed company
• The merger will allow the new company to expand the Mylan’s product portfolio including generics and biosimilar with the addition of Upjohn’s sales infrastructure and local market expertise. The transaction is expected to close in mid-2020
• The new company will be headquartered in the US with Upjohn’s Michael Goettler as the CEO and Mylan’s Robert J. Coury as Executive Chairman of the new company and will operate globally at Pennsylvania (Pittsburgh), Shanghai, China, and India (Hyderabad)

Click here to­ read full press release/ article | Ref: Pfizer | Image: Bizjournal

Related News: Pfizer in Talks with Mylan to Merge its Off-Patent Drug Business