Merger with Pfizer franchise creates largest generic pharmaceutical manufacturer
Mylan Inc. (Mylan) announced that it was merging with Pfizer's off-patent drug franchise, Upjohn Inc, in 2019 and the deal was completed in November, 2020. Mylan and Upjohn's new business operates under the name Viatris Inc. (Viatris) and represents the largest individual operator in the Generical Pharmaceutical Manufacturing industry. The combined company expanded its geographical presence to more than 165 countries as a result. The value created from the combined company allocated 57.0% to Pfizer shareholders and 43.0% to Mylan shareholders.
Balance Sheet|Structural|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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