Viatris

History

2023: $3.6 billion asset sale

On October 1, 2023, Viatris, the manufacturer of Viagra, announced that it had reached an agreement to sell a significant part of its assets. The transaction amount is $3.6 billion; it requires regulatory approvals to complete it.

As part of the agreement, Viatris, formed as a result of the merger of Mylan and Pfizer's Upjohn division, will sell the rights to over-the-counter drugs to the French company Cooper Consumer Health. The deal includes two production sites located in Merignac (France) and Confienza (Italy), as well as a research and development center in Monza (Italy). At the same time, Viatris will retain the rights to the erectile dysfunction drug Viagra, Dymista nasal spray and some other over-the-counter drugs in certain markets. The transaction amount is $2.17 billion, and it is planned to close it in the second quarter of 2024.

Viatris said it has reached an agreement to sell a significant portion of its assets

Viatris also signed an agreement to sell its women's health business, mainly related to oral and injectable contraceptives, to Spanish pharmaceutical company Insud Pharma. The contract includes two manufacturing plants in India - in Ahmedabad and in Sarigam. The deal is expected to close in the first quarter of 2024. Viatris' active pharmaceutical ingredients business in India will be sold to Iquest Enterprises, a private pharmaceutical company based in that country. We are talking about three production sites and research laboratories in Hyderabad, as well as three sites in Vizak. The two deals would bring in about $1.2 billion for Viatris.

In addition, Viatris will sell the rights to Dufaston and Femoston women's health drugs to Theramex, a London-based company. All of these deals will greatly simplify Viatris' organizational structure, and the company's workforce will decrease by about 6,000 employees.^[1]

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