Four Decades for Justice
Cravath represented Viatris Inc. in connection with its debt exchange offer totaling up to $7.45 billion. Viatris Inc. is a global healthcare company delivering increased access to affordable, quality medicines for patients worldwide. The transaction expired on October 28, 2021.
The Cravath team included partner Matthew G. Jones and associate Caroline B. Bowman on capital markets matters, and senior attorney Kiran Sheffrin and associates Alissa B. Fromkin and Sonia Katharani‑Khan on tax matters.
Deals & Cases
February 28, 2024
On February 28, 2024, Viatris Inc. (“Viatris”), a global healthcare company, and Idorsia Ltd (“Idorsia”) announced they have entered into agreements for a significant global research and development collaboration under which Viatris will receive exclusive global development and commercialization rights to two Phase 3 assets as well as the potential to add additional innovative assets in the future.
Deals & Cases
October 02, 2023
On October 1, 2023, Viatris Inc. (“Viatris”), a global healthcare company, announced it has received an offer for the divestiture of substantially all of its Over-the-Counter (“OTC”) business, and has entered into definitive agreements to divest its Women’s Healthcare business, its Active Pharmaceutical Ingredient (“API”) business in India and commercialization rights in certain non-core markets that were acquired as part of the combination with Upjohn. The total transactions value, including Viatris’s 2022 divestiture of its biosimilars business, represents up to $6.94 billion of total gross proceeds. The estimated transaction value for the divestitures announced today is $3.6 billion, including gross consideration of up to approximately $2.17 billion for the divestiture of substantially all of its OTC business, and up to approximately $1.2 billion combined for the divestitures of its API and Women’s Healthcare businesses. Cravath is representing Viatris in connection with the transactions.
Deals & Cases
April 07, 2023
On Thursday, March 30, 2023, the U.S. District Court for the Southern District of New York granted summary judgment in favor of Cravath client Viatris (formed in 2020 from a combination of Mylan and Pfizer’s Upjohn division). The shareholder class action asserted numerous violations of the federal securities laws, all premised on other allegations related to Mylan’s marketing, pricing and classification of EpiPen as well as alleged conduct concerning generic drug price fixing and market allocation.
Deals & Cases
November 07, 2022
On November 7, 2022, Viatris Inc. (“Viatris”), a global healthcare company, announced it intends to create an ophthalmology franchise by acquiring Oyster Point Pharma (“Oyster Point”) and Famy Life Sciences.
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