Pfizer to promote Upjohn enterprise to Mylan Pharma for Rs 180.48 crore

Pfizer to promote Upjohn enterprise to Mylan Pharma for Rs 180.48 crore

Drug agency Pfizer Ltd on Friday mentioned it has entered into an settlement with Mylan Prescription drugs to promote its Upjohn enterprise for Rs 180.48 crore.

The corporate has entered right into a enterprise switch settlement with Mylan Prescription drugs to switch sure primarily off-patent branded and generic established medicines (Upjohn enterprise) as a going concern to Mylan for a consideration of Rs 180.48 crore, Pfizer Ltd mentioned in a regulatory submitting.

The consideration for the switch is supported by valuation reviews issued by two unbiased valuers, it added.

“The Upjohn Enterprise includes six manufacturers which embody Lyrica, Viagra, Celebrex, Amlogard, Daxid and Dilantin. These together with associated enterprise property and liabilities will transition to Mylan,” the submitting mentioned.

The rationale for the transaction is that Pfizer Inc, USA on July 29, 2019, introduced that it had entered right into a definitive settlement to mix its Upjohn enterprise — which consists of off-patented branded and generic established medicines — with Mylan N.V., thereby creating a brand new world pharmaceutical firm, Viatris Inc.

The worldwide transaction was closed in November 2020.

Below the worldwide transaction, six manufacturers at present marketed by Pfizer Ltd in India, viz., Lyrica, Viagra, Celebrex, Amlogard, Daxid and Dilantin, will transition to Mylan Prescription drugs.

The transaction in India will likely be closed upon receipt of regulatory approvals, Pfizer Ltd mentioned.

(Solely the headline and film of this report might have been reworked by the Enterprise Commonplace workers; the remainder of the content material is auto-generated from a syndicated feed.)

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