Pfizer Announces New Company Name for Mylan and Upjohn Combination
The new company name, Viatris, derives from Latin and represents the company’s main goals.
Pfizer announced on Nov. 12, 2019 that the new company formed by the planned combination of Mylan and Upjohn, a division of Pfizer, will be named Viatris (pronounced ‘viÇ-trÄ«s).
The new name derives from Latin and represents the company’s three main goals: to expand access to medicine, to lead by innovating to meet patient needs, and to be a trusted partner in the healthcare community, according to a Pfizer press release.
“We wanted a name that would differentiate our new company and clearly explain how we will be a champion for global health,” said Robert J. Coury, who will serve as executive chairman of the new company, in the Pfizer press release. “We are creating a company unlike any other-a company focused on building a more hopeful and sustainable healthcare journey, empowering patients to live healthier at every stage of life.”
“The name Viatris communicates the strength of our companies’ combined heritage and our shared goal to provide the highest-quality medicines to the most patients possible,” added Michael Goettler, group president, Upjohn, who will serve as CEO of Viatris, in the Pfizer press release. “We have an opportunity to deliver better health, better care, and better value for patients and partners around the world.”
Originally announced on July 29, 2019, the combination of the companies will merge Upjohn’s presence in China with Mylan’s presence in the United States and Europe to create an expanded geographic reach for Viatris’ product portfolio and future pipeline. The new company is expected to have pro forma 2020 revenues of $19 to 20 billion along with a pro forma free cash flow of more than $4 billion, according to a Mylan press release.
The new name will be effective after the closing of the agreement, which is anticipated for mid-2020. Until then, the companies will operate as independent organizations.
