Upjohn To Divest Three In Australia To Complete On Viatris
ACCC Nod Moves $12bn Merger With Mylan Closer To Completion
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.
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Shortly after agreeing to divest three mature Upjohn brands in Australia, Mylan and the Pfizer off-patent and mature brands unit have stepped closer to merging into Viatris, bagging another key regulatory approval that had been in the works for several months.
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.