EC nod for Mylan merger with Upjohn; Copaxone patent win
Netherlands-incorporated generic major Mylan (Nasdaq: MYL) and US pharma giant Pfizer (NYSE: PFE) today announced that the companies have received final approval from the European Commission (EC) for the proposed combination of Mylan and Pfizer's Upjohn business, which will be called Viatris on completion.
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.
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