The End Is Nigh For Mylan, But How Different Will The New Company Be?
Mylan will be merged into a new company with Pfizer’s Upjohn, closing the chapter on a generic drug powerhouse that will be remembered as much for scandal as success.
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Commissioners vote 3-2 that Mylan and Pfizer’s Upjohn can combine after divesting seven products; dissenting votes focus on price fixing allegations as commissioners Chopra and Slaughter criticize majority for not addressing government’s case against Pfizer and Mylan. Former FTC attorneys note that if Biden wins the presidential election, he could nominate one of the dissenters to FTC chair and give more traction to their views.
Generics giant Mylan, which has a large chunk of its manufacturing operations in India, has said it will invest $1bn over the next five to six years in the country, maintaining the spending pace the company has established over the last few years.
It's possible the US Federal Trade Commission could require Mylan or Pfizer's Upjohn to divest some pharmaceuticals as the companies have more than 70 overlapping products.