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News & Insights

Viatris’s $6.94 Billion in Announced Divestitures

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.

The Cravath team representing Viatris in connection with the divestitures of its Over-the-Counter, Women’s Healthcare and Active Pharmaceutical Ingredient businesses is led by partners Mark I. Greene, Aaron M. Gruber and Andrew M. Wark and includes associates Ellen H. Park, Maria Ricaurte, Harold C. King, Monica He, Brian E. Weinrib, Laureano Genin and Kiyon Hahm on M&A matters; partner J. Leonard Teti II, of counsel Kiran Sheffrin and associate Sonia Katharani-Khan on tax matters; partner Jonathan J. Katz and associates Christopher C. Gonnella and Bianca Hsing on executive compensation and benefits matters; partner David J. Kappos and associates Carys J. Webb and Sarah R. Brathwaite on intellectual property matters; partner Margaret T. Segall and practice area attorney Nicole M. Peles on antitrust matters; partner Matthew Morreale and associate Star S. Gulant on environmental matters; and senior attorney Joyce Law and practice area attorney Brian M. Budnick on real estate matters. Anthony J. Grisafi also worked on tax matters.

Please click here to read about Cravath’s representation of Viatris in connection with its $3.335 billion combination of its Biosimilars Portfolio with Biocon Biologics, announced in February 2022.

Related Practices & Industries

  • Corporate
  • Mergers and Acquisitions
  • Tax
  • Executive Compensation and Benefits
  • Intellectual Property
  • Antitrust
  • Environmental
  • Healthcare and Life Sciences

People

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Name
Mark I. Greene
Title
Corporate
Title
Partner
Email
mgreene@cravath.com
Phone
+1-212-474-1150
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    Education

    • J.D., 1993, University of Pennsylvania Law School
    • B.A., 1989, Cornell University

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    • New York
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    Aaron M. Gruber
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    Corporate
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    Partner
    Email
    agruber@cravath.com
    Phone
    +1-212-474-1456
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      Education

      • J.D., 2007, Stanford Law School
        Order of the Coif
      • M.Phil., 2004, University of Cambridge
        Gates Cambridge Scholar
      • B.S., 2003, Yale College
        summa cum laude

      Admitted In

      • New York
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      Name
      Andrew M. Wark
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      Partner
      Email
      awark@cravath.com
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      +1-212-474-1592
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        Education

        • J.D., 2013, Columbia Law School
          Harlan Fiske Stone Scholar
        • B.S., 2010, Duke University

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        • New York
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        J. Leonard Teti II
        Title
        Tax
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        Partner
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        lteti@cravath.com
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        +1-212-474-1896
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          Education

          • J.D., 2005, University of Virginia School of Law
            Order of the Coif
          • A.B., 1999, Princeton University
            with Honors

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          • New York
          Photo
          Name
          Jonathan J. Katz
          Title
          Executive Compensation and Benefits
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          Partner
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          jkatz@cravath.com
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          +1-212-474-1538
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            Education

            • LL.M., 2013, New York University School of Law
            • J.D., 2007, Benjamin N. Cardozo School of Law
              Order of the Coif, Dean's Distinguished Scholar, summa cum laude
            • B.S., 2003, Cornell University

            Admitted In

            • New York
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            David J. Kappos
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            dkappos@cravath.com
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            +1-212-474-1168
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              Education

              • J.D., 1990, University of California, Berkeley, School of Law
              • B.S., 1983, University of California, Davis
                summa cum laude

              Admitted In

              • New York
              • California
              • District of Columbia
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              Margaret T. Segall
              Title
              Litigation
              Title
              Partner
              Email
              msegall@cravath.com
              Phone
              +1-212-474-1231
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                Education

                • J.D., 2008, Harvard Law School
                  cum laude
                • A.B., 2003, Harvard College
                  magna cum laude

                Admitted In

                • New York
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                Matthew Morreale
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                Corporate
                Title
                Partner
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                mmorreale@cravath.com
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                +1-212-474-1534
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                  Education

                  • J.D., 1997, Columbia Law School
                    Harlan Fiske Stone Scholar
                  • M.S., 1994, University of Pennsylvania
                  • B.A., 1990, University of Pennsylvania
                  • B.A.S., 1990, University of Pennsylvania

                  Admitted In

                  • New York
                  Photo
                  Name
                  Kiran Sheffrin
                  Title
                  Tax
                  Title
                  Of Counsel
                  Email
                  ksheffrin@cravath.com
                  Phone
                  +1-212-474-1842
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                    Education

                    • J.D., 2013, Brooklyn Law School
                      magna cum laude
                    • B.A., 2010, Wesleyan University

                    Admitted In

                    • New York
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                    Name
                    Nicole M. Peles
                    Title
                    Litigation
                    Title
                    Of Counsel
                    Email
                    npeles@cravath.com
                    Phone
                    +1-212-474-1624
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                      • J.D., 2010, New York University School of Law
                        cum laude
                      • A.B., 2007, Dartmouth College

                      Admitted In

                      • New York
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                      Name
                      Ellen H. Park
                      Title
                      Corporate
                      Title
                      Of Counsel
                      Email
                      epark@cravath.com
                      Phone
                      +1-212-474-1652
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                        Education

                        • J.D., 2017, Harvard Law School
                          cum laude
                        • B.A., 2013, University of California, San Diego

                        Admitted In

                        • New York
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                        Name
                        Joyce Law
                        Title
                        Corporate
                        Title
                        Senior Attorney
                        Email
                        jlaw@cravath.com
                        Phone
                        +1-212-474-1066
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                          Education

                          • J.D., 1997, Boston University School of Law
                          • B.Comm., 1994, University of Alberta
                            Distinction

                          Admitted In

                          • New York
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                          Name
                          Brian M. Budnick
                          Title
                          Corporate
                          Title
                          Practice Area Attorney
                          Email
                          bbudnick@cravath.com
                          Phone
                          +1-212-474-1914
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                            Education

                            • J.D., 2011, Benjamin N. Cardozo School of Law
                              cum laude
                            • B.A., 2006, University of Virginia

                            Admitted In

                            • New York

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                            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.

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