Upjohn/Mylan: Will "Potential Moderate Growth" Lure Investors?
The combined company will have pro forma 2020 revenues of $19bn to $20bn, generate $1bn in synergies by 2023 and be led by Upjohn CEO Michael Goettler. Mylan's longtime CEO Heather Bresch will depart.
You may also be interested in...
Public Company Edition: Lilly’s COVID-19 antibody partner AbCellera launched one of the biggest IPOs of 2020, bringing in $483m. Also, two more SPACs went public; Sinovac, Biocryst and Kura Oncology arranged large financings; and Viatris plans post-merger layoffs.
The pandemic phase will last through late 2021/early 2022, becoming a more seasonal opportunity for several years after, Pfizer management predicted during the company's second quarter call.
Public Company Edition: June has seen 14 initial public offerings by drug developers (and one big biopharma funder) after there were only 15 from January through May – and the month isn’t over yet. Follow-on and other offerings also are hitting the market at a rapid pace.