The launch of a new company Viatris Inc. was announced upon the successful completion of Pfizer’s transaction to spin off its Upjohn Business and combine it with Mylan. Through this acquisition the companies have brought in their scientific, manufacturing and distribution expertise to develop and deliver high quality medicines in more than 165 countries across the globe. The merger was announced on July 29, 2019 and received regulatory clearances on October 30, 2020.
Viatris is headquartered in the US and its global portfolio comprises of more than 1400 approved molecules ranging across various therapeutic areas including communicable and non-communicable diseases. The portfolio has a mix of globally recognized brands, generics, complex generic, biosimilars and OTCs. It will be amongst the leading providers of anti-retroviral drugs to the WHO for treating HIV/AIDS and other infectious diseases. On the financial aspect, Viatris is expected to return a dividend of at least 25% of free cash flows to its shareholders, starting after the first full quarter of Viatris’s operation. The company is also committed to deleverage towards a target leverage ratio of 2.5x over time.
With a workforce of approximately 45,000 people, Viatris is envisioned to be a global healthcare company to expand accessibility of medicines to people irrespective of their geography or circumstance. As mentioned by the Executive Chairman of Viatris, Robert J. Coury “Today we celebrate the launch of Viatris, the culmination of more than a decade of strategic, thoughtful work to build a global company with the breadth and depth to provide more efficient access to high quality medicines to patients and healthcare systems around the world”.