Mylan – Upjohn merger delayed by coronavirus outbreak

Coronavirus

PITTSBURGH – Mylan and Pfizer Inc. announced Thursday that due to the circumstances surrounding the COVID-19 pandemic, including associated delays in the regulatory review process, the proposed transaction involving Mylan and Upjohn, a division of Pfizer, is now anticipated to close in the second half of 2020.

There are no additional changes to the previously announced terms or plans regarding the transaction, officials said. The two companies remain highly confident in the benefits of the pending transaction to their respective shareholders and other stakeholders, according to a news release. Mylan, Pfizer and Upjohn are working closely on integration planning and are making significant progress toward Day 1 readiness, the release said.

The primary focus of both companies remains the health and safety of their dedicated and valued employees who are working tirelessly towards completion of this transaction while also maintaining their responsibility to meet patient needs during this extraordinary time, officials said.

Also, in light of increased meeting and other restrictions due to COVID-19 developments in the Netherlands, where Mylan is incorporated, Mylan’s extraordinary general meeting of shareholders to approve certain matters in connection with the transaction has been rescheduled from April 27, 2020, to June 30, 2020, and will be hosted in conjunction with the company’s annual general meeting of shareholders, Mylan officials said.

Mylan and Pfizer continue to look forward to the proposed combination creating a new “champion for global health” at the close of the transaction, the news release said.

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