Pfizer to sell Upjohn business to Mylan Pharma for Rs 180.48 crore
- ByStartupStory | October 4, 2021
Pfizer Ltd said it has agreed to sell its Upjohn business to Mylan Pharmaceuticals for Rs 180.48r core.
As part of the business transfer agreement with Mylan Pharmaceuticals, certain high-qualityb randed and generic off-patent medicines that Upjohn makes (Upjohn business) will be transferred to Mylan as a going concern for Rs 180.48 crore, the company reported.
There are two independent valuation reports supporting the transfer consideration, the companya said.
Daxid and Dilantin, which will all transition to Mylan, according to the filing.
On July 29, 2019, Pfizer Inc, USA announced that it had entered into a definitive agreement to combine its Upjohn business with Mylan N.V., creating a new global pharmaceutical company, Viatris Inc.
The global transaction was completed in November 2020. Pfizer will transition six of its brands marketed in India by Pfizer Ltd, viz. Lyrica, Viagra, Celebrex, Amlogard, Daxid, and Dilantin, to
Mylan Pharmaceuticals. Pfizer Ltd said the transaction in India will close once regulatorya Approvals are received.
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