Mylan and Pfizer announce deal to form NewCo

Jul 30, 2019

Mylan and Pfizer announce deal under which Mylan and UpJohn (a division of Pfizer) will merge to form NewCo (name to be announced).  Under the deal, Pfizer shareholders will own 57% of the combined company, and Mylan shareholders 43%.  Mylan CEO Heather Bresch will retire as part of the deal, and the new CEO will be Michael Goettler, current Upjohn group President.  Mylan notes its biosimilars as bringing key growth to NewCo, including trastuzumab (Ogivri), bevacizumab (the India-approved and launched Abevmy), pegfilgrastim (Fulphila), and insulin glargine (Semglee, approved and launched in EU and elsewhere), and the pipeline biosimilars abatacept and aflibercept.  Read more.