Pfizer To Merge Off-Patent Business With Mylan
Pfizer has announced plans to merge its off-patent unit with Mylan, creating a new generics and biosimilars giant in the US.
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Almost 500 days after the transaction was first announced, Viatris, the proposed combination of Mylan and Pfizer’s Upjohn, is set to receive word from the US Federal Trade Commission, representing the last major obstacle to getting the deal over the line.
In an eventful year for the off-patent industry, the world’s leading generics and biosimilars players have switched places in Generics Bulletin’s newly-compiled global sales ranking.
Mylan and Upjohn are aiming to combine into Viatris by the end of 2020, together ticking off regulatory and financial milestones since the deal was announced in late July last year. Mylan shareholder approval remained a condition for the deal to close – with a previous vote delayed by more than two months due to the COVID-19 pandemic.