Mylan Must Divest In EU For Upjohn Merger
European Commission Sets Out Requirements To Approve Deal
The European Commission has approved Mylan’s merger with Pfizer’s Upjohn unit, on condition that the generics firm make a series of divestments in markets where the two firms’ strong positions and lack of other challengers would raise competition concerns.
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Another regulatory approval for Mylan and Upjohn’s proposed combination into Viatris has been ticked off, with the Australian Competition and Consumer Commission saying it will not oppose the deal after Upjohn agreed to divestments to Aspen Pharmacare.
Drawing on the company’s Latin name, Viatris – the proposed combination of Mylan and Upjohn – has unveiled a logo and branding “capturing the company’s commitment to access, leadership and partnership.”
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.