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Pfizer (PFE) has agreed with Mylan (MYL) to separate its generic drug business Upjohn and combine it with MYL to form a new company named Viatris. Viatris will be listed as an independent company going forward. The deal is expected to complete in the immediate next quarter. As part of the deal,
Existing MYL shareholders will get 1 for 1 shares of Viatris
43% of Viatris shares will go to Mylan shareholders and 57% will go to Pfizer shareholders.
Upjohn will raise a debt of $12 billion which will go to