Mylan, Pfizer Say Upjohn Deal Closing Delayed to 2nd Half
Mylan N.V. and Pfizer Inc. on Thursday said they now expect their planned deal to combine Pfizer’s off-patent drugs business Upjohn with generic drugmaker Mylan to close in the second half of the year due the coronavirus pandemic.
The companies, which had expected the transaction to close in mid-2020, said the pandemic has resulted in delays in the regulatory review process.
The companies said Mylan will move its extraordinary general meeting of shareholders, which had been slated for April 27 to approve the transaction, to June 30, in conjunction with its annual general meeting.
Mylan and Pfizer said there are no other changes to the terms or plans regarding the transaction.