Viatris Plots ‘Significant’ Restructuring As Mylan-Upjohn Merger Completes
New Company Aims To Achieve $1bn Of Synergies Through Restructuring
Nearly 16 months after it was first announced, the $12bn merger of Mylan and Pfizer’s Upjohn has completed, with the resulting company Viatris preparing to unveil restructuring plans by the end of 2020.
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After an extraordinary year that saw demand patterns and the supply chain upended by the COVID-19 pandemic, as well as a major merger that has transformed one of the global off-patent industry’s biggest players, the leaders of the pack in the Generics Bulletin Top 50 have once again seen significant changes in 2021.
At Viatris’ inaugural investor day, management spoke at length about the company’s ambitions for biosimilars, underlining that the company currently had no plans to expand its manufacturing footprint at the present time.
Pfizer’s US biosimilars sales approached $1bn last year, following a number of launches and continued uptake for key products, while revenues in international markets, especially Europe, also increased.