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Pfizer reveals more Viatris spin-off details 

By Brian Buntz | November 6, 2020

ViatrisPfizer (NYSE:PFE) expects common stock for its Viatris spin-off to be available starting Nov. 12, following the U.S. Federal Trade Commission’s approval of the proposed merger of Mylan (NSDQ:MYL) and Pfizer’s biopharmaceutical Upjohn brand. 

The company expects the “when-issued” market for Viatris common stock (VTRSV) to be available from Nov. 12 to Nov. 16, when it expects Upjohn to be formally rebranded Viatris.    

Pfizer said that its stockholders would automatically receive distributed shares of the Viatris stock. Stockholders who hold Pfizer stock will receive a book-entry account statement recording their Viatris stock ownership. Pfizer stockholders will continue to own Pfizer common stock as well. 

During the Nov.12–16 window, stockholders will have the option of selling the right to obtain Viatris shares while retaining Pfizer stock.  

Stockholders also will be able to sell shares of Pfizer stock while receiving Viatris stock. 

Pfizer’s shares recently slid after its Q3 earnings failed to meet consensus expectations. 

About The Author

Brian Buntz

The pharma and biotech editor of WTWH Media, Brian is a veteran journalist with more than 15 years of experience covering an array of life science topics, including clinical trials, drug discovery and development and medical devices. Before coming to WTWH, he served as content director focused on connected devices at Informa. In addition, Brian covered the medical device sector for 10 years at UBM. At Qmed, he overhauled the brand’s news coverage and helped to grow the site’s traffic volume dramatically. He had previously held managing editor roles on two of the company’s medical device technology publications. Connect with him on LinkedIn or email at bbuntz@wtwhmedia.com.

Comments

  1. Michael G. Czachor says

    November 25, 2020 at 11:59 pm

    will there be any dividends

    Reply

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