PITTSBURGH (WDTV)-- Pfizer Inc. and Mylan N.V. announced that the merge involving Mylan and Upjohn has been delayed due to the COVID-19 pandemic.
According to a news release from Mylan, the transaction involving Mylan and Upjohn is anticipated to close in the second half of 2020.
"There are no additional changes to the previously announced terms or plans regarding the transaction," the news release states. "The two companies remain highly confident in the benefits of the pending transaction to their respective shareholders and other stakeholders. Mylan, Pfizer and Upjohn are working closely on integration planning and are making significant progress toward Day one readiness. Together the companies continue to progress toward a successful close."
According to Mylan, the primary focus between the companies is the health and safety of their employees "working tirelessly towards completion of this transaction while also maintaining their responsibility to meet patient needs during this extraordinary time."
Mylan and Pfizer look forward to the proposed combination.