Viatris Inc (VTRS)

[AllGold818]

Vitaris, Pfizer announced that it would merge its off-patent branded and generic established medicines business, known as Upjohn, with Mylan. The transaction created a new company, Viatris, using a reverse Morris trust structure.[80][third-party source needed] The new business will trade on the NASDAQ stock exchange under the ticker NASDAQ: VTRS.[80] Pfizer shareholders would own 57% of the new combined business. The Board of Viatris will be composed of Robert J. Coury as Executive Chairman (currently Executive Chairman of Mylan), Michael Goettler as CEO (currently Global President of Upjohn), eight people chosen by Mylan and three chosen by Pfizer. In December 2019, Pfizer chose former CEO and Chairman, Ian Read and current Director of Pfizer, James Kilts. In February 2020 Pfizer announced W. Don Cornwell and their final Board selection with Mylan selecting JoEllen Lyons Dillon, Neil Dimick, Melina Higgins, Harry A. Korman, Rajiv Malik, Richard A. Mark, Mark W. Parrish and Pauline van der Meer Mohr as their Board nominees – all current directors of Mylan.[80]

In October 2020, the US Federal Trade Commission approved the combination.[81]

Viatris (VTRS)