Mylan (NASDAQ: MYL) and Pfizer Inc. (NYSE: PFE) today announced that the companies have received final approval from the European Commission (EC) for the proposed combination of Mylan and Pfizer Inc.'s Upjohn business. As previously disclosed, the EC issued a conditional approval in April 2020 that was subject to the divestiture of certain of Mylan's products in Europe. The EC has approved the proposed divestiture buyers and Mylan has entered into agreements with those buyers on terms that the EC has accepted, which are substantially in line with Mylan's previously stated expectations. Additionally, the companies received approval from the Australian Competition and Consumer Commission and the New Zealand Commerce Commission related to the combination of Mylan and Pfizer's Upjohn business.
Future Viatris Executive Chairman and current Mylan Executive Chairman Robert J. Coury said, "With these approvals, we are now nearing the completion of the proposed combination of Mylan and Pfizer's Upjohn business. We now have all required clearances in place pending only approval in the U.S., and remain on track to close the transaction in the fourth quarter of this year. We are very excited to launch this new kind of healthcare company that is positioned to meet patients' evolving need for medicine at every stage of life."
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About Mylan
Mylan is a global pharmaceutical company committed to setting new standards in healthcare. Working together around the world to provide 7 billion people access to high quality medicine, we innovate to satisfy unmet needs; make reliability and service excellence a habit; do what's right, not what's easy; and impact the future through passionate global leadership. We offer a portfolio of more than 7,500 marketed products around the world, including antiretroviral therapies on which approximately 40% of people being treated for HIV/AIDS globally depend. We market our products in more than 165 countries and territories. We are one of the world's largest producers of active pharmaceutical ingredients. Every member of our approximately 35,000-strong workforce is dedicated to creating better health for a better world, one person at a time. Learn more at Mylan.com. We routinely post information that may be important to investors on our website at investor.mylan.com.
About Upjohn
With over 130 years of experience in improving patient lives, Pfizer Upjohn seeks to leverage our portfolio, global experience and expertise to become the trusted partner of choice for all stakeholders committed to improving patient health. We focus on relieving the burden of non-communicable diseases with trusted, quality medicines for every patient, everywhere, with the goal of treating 225 million new patients by 2025. Upjohn brings together 20 of the industry's most trusted brands — products such as Lipitor®, Norvasc®, Lyrica® and Viagra® — with world-class medical, manufacturing and commercial expertise in more than 120 countries. Upjohn's network of approximately 11,500 colleagues works together to be fast, focused and flexible to ensure that patients around the world access the healthcare they need.
