Mylan and Pfizer said they have received approval from the Federal Trade Commission for their deal to combine Mylan with Pfizer’s off-patent drug business, Upjohn.
The new combined business will be called Viatris, and its debut is expected to be Nov. 16.
Mylan and Pfizer first announced their plans for a merger in July 2019 and said the new company would be a global pharmaceutical giant producing both generic and brand-name drugs. They said the new company will sell well-known branded drugs such as Mylan’ EpiPen and Pfizer’s Viagra and could generate up to $20 billion per year.
In March, the companies said they’d push back the merger until the second half of this year due to unexpected delays in getting regulatory approval caused by the COVID-19 pandemic.
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