Mylan And Upjohn Put A Price On $11.5bn Viatris Debt
Delayed Combination Of The Two Firms Is Set For Q4
Upjohn is to pay parent company Pfizer $12bn in cash in order to complete its separation and merger with Mylan to form Viatris, a new company set to be unveiled by the end of this year following a delay caused by the COVID-19 pandemic. Details of the debt financing tapped into the by the company have just been announced.
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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.
With Mylan continuing to count down the days until its merger with Pfizer’s Upjohn completes, the US firm has struck a deal to acquire Aspen Pharmacare’s thrombosis business in Europe, bolstering what is already a $4bn operation.
Pfizer is on course for a major milestone for biosimilars this year, as it continues to make plans for the separation of its off-patent and mature brands unit, Upjohn, ahead of its merger with Mylan.