Pfizer: Mylan Delays Merger due to Coronavirus Pandemic | Financial Buzz

Pfizer: Mylan Delays Merger due to Coronavirus Pandemic

Mylan is a global pharmaceutical company committed to setting new standards in healthcare.  Mylan N.V. (NASDAQ: MYL) and Pfizer Inc. (NYSE: PFE) reported today that due to the circumstances revolving the COVID-19 pandemic, there are delays in the regulatory review process on the merger that involved Mylan and Upjohn, a division of Pfizer.  The anticipated close of the transaction is set to the second half of 2020.

There are no additional changes to the previously disclosed terms or plans in regards to the transaction.  Both companies remain confident in the benefits of the merger and value it brings to respective stakeholders and shareholders.  Both companies are working diligently and are patiently waiting for the proper time to close the transaction.  Health and safety is the primary goal for both companies, this includes its employees that are working hard to meet patient needs during this time. 

Due to the nature of the virus and how others contract it, meetings and restrictions have been limited.  Mylan, located in the Netherlands, has pushed its general meeting of shareholders from April 27th, 2020 to June 30th, 2020 now.