Mylan to acquire Aspen's thrombosis business in Europe

8 September 2020

Generic drugs major Mylan (NYSE: MYL) has reached an agreement to acquire the related intellectual property and commercialization rights of South Africa-headquartered Aspen Pharmacare’s (JSE: APN) thrombosis business in Europe.

Netherlands-incorporated Mylan, which is due to merge with Pfizer’s (NYSE: PFE) generics division Upjohn into a new company to be called Viatris, will pay Aspen 641.9 million euros ($757.4 million), subject to customary closing conditions and European regulatory clearances. Aspen’s shares gained 8.9% to 14,600 rand in morning trading.

The transaction is expected to be immediately accretive to Mylan upon closing and is anticipated to be accretive to Viatris on the completion of Mylan's previously announced combination with Upjohn that is expected to close in the fourth quarter of 2020.

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