FTC Approves Final Order Imposing Conditions on Combination of Pfizer Inc.’s Upjohn and Mylan N.V.

Following a public comment period, the Federal Trade Commission has approved a final ordersettling charges that the combination of the Upjohn division of pharmaceutical company Pfizer and Mylan N.V. would violate federal antitrust law.

Metadata
Provider: 
FTCFTC
URL: 
https://www.ftc.gov/news-events/press-releases/2021/01/ftc-approves-final-order-imposing-conditions-combination-pfizerhttps://www.ftc.gov/news-events/press-releases/2021/01/ftc-approves-final-order-imposing-conditions-combination-pfizer
Retrieved on: 
Thursday, January 28, 2021
Information
Tags: 
Pharmaceutical companies, Life sciences, Companies, Canonsburg, Pennsylvania, Mylan, Pfizer, Viatris, Upjohn, Pharmaceuticals policy, Generic drug, Heather Bresch
Summary
Key Points: 
  • Following a public comment period, the Federal Trade Commission has approved a final ordersettling charges that the combination of the Upjohn division of pharmaceutical company Pfizer and Mylan N.V. would violate federal antitrust law.
  • The proposed transaction contemplated that Pfizer Inc. would spin off its Upjohn divisionwhich includes Pfizers authorized generic business Greenstone, LLCand combine it with Mylan to form Viatris Inc.
  • The complaint, which was first announced in October 2020, alleged that the combination would likely harm current competition in seven generic drug markets and future competition in three generic drug markets.
  • The final order requires the parties to divest rights and assets in the seven current generic drug markets where harm was likely.
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