20 November 2020 - Deborah Wilkes
Mylan and Pfizer’s Upjohn business have now been combined into Viatris, and Venture Life has raised additional funds.
Viatris comes into being
Mylan and Pfizer have now completed the planned combination of Mylan with Pfizer’s Upjohn business to create Viatris.
Announcing the transaction in July 2019, the two companies said Viatris would have a "sustainable, diverse and differentiated portfolio of prescription medicines, complex generics, OTC products and biosimilars" (click here to read the News story).
They added that Viatris was expected to have proforma 2020 sales of between USD19 billion and USD20 billion.
Viatris has its headquarters in the US.
Venture Life raises GBP34 million
Self-care group Venture Life said it had raised gross proceeds of GBP34 million (USD45 million) through a placing by Cenkos Securities to certain institutional and other investors.
The UK-based company plans to raise additional gross proceeds of up to GBP2.0 million through an open offer made to qualifying shareholders.
Chief executive officer Jerry Randall said the injection of additional funds would be used to support the company’s acquisition growth strategy.