Pfizer Completes Combination Of Upjohn And Mylan; Viatris To Begin Trading On Nov. 17

(RTTNews) - Pfizer Inc. (PFE) has completed the transaction to spin off its Upjohn Business and combine it with Mylan N.V. The combined company was renamed Viatris in connection with the closing. Viatris (VTRS) will begin trading on November 17, 2020. As of the closing, Pfizer stockholders owned approximately 57% of the outstanding shares of Viatris common stock, and Mylan shareholders owned approximately 43% of the outstanding shares of Viatris common stock.

Upjohn Inc. was spun off to Pfizer stockholders by way of a pro rata distribution and immediately thereafter combined with Mylan. Pfizer stockholders received approximately 0.124079 shares of Viatris common stock for every one share of Pfizer common stock held as of the close of business on the record date. Pfizer stockholders also retained as of the closing the same number of shares of Pfizer common stock as they held immediately prior to the transaction.