Mylan shareholders got a Viatris share for every previous Mylan share they held.
Newco will be renamed “Viatris,” effective as of closing of the Combination. When the transactions are completed, Mylan shareholders as of immediately prior to the Combination will hold 43% of the fully diluted outstanding shares of common stock of Newco.
As a result of its merger with Pfizer’s Upjohn to form Viatris, Inc. (VTRS), Mylan N.V. (MYL) was delisted from the Nasdaq stock exchange on 11/17/2020. Shareholders of MYL received 1 share of VTRS for every 1 share of MYL they held at the close of market on 11/16/2020.
Will Viatris pay a dividend?
On May 7, 2021, Viatris’ Board of Directors declared the Company’s first quarterly cash dividend of $0.11 per share on the Company’s issued and outstanding common stock. The cash dividend will be payable on June 16, 2021 to shareholders of record as of the close of business on May 24, 2021.
Is Viatris spin off taxable?
It is structured to be a non-taxable event for Pfizer shareholders. The cost basis allocation information is calculated from the average of the opening and closing prices of VTRS and PFE on the effective date of the spinoff.
Is Viatris a spinoff?
Viatris was formed as a result of the spin-off by Pfizer Inc. (“Pfizer”) of its global, primarily off-patent branded and generic established medicines business (the “Upjohn Business”) and, immediately thereafter, the combination of the Upjohn Business with Mylan N.V. (“Mylan”).
What is the cost basis for Viatris?
This results in a tax basis of approximately $4.19 per share, with approximately $519.67 allocated to the 124 shares received of Viatris common stock and approximately $0.33 allocated to the Viatris fractional share in respect of which cash is received.
Is Viatris part of Mylan?
Mylan is now part of Viatris, a new global healthcare company committed to empowering people to live healthier at every stage of life. We encourage you to learn more about our commitment to increasing access to quality medicines for patients when and where they need them.
Is Viatris a Pfizer company?
A: Viatris is a new company that is the combination of Mylan and Upjohn, a legacy division of Pfizer.
Which company acquired Mylan to create a new company Viatris?
NEW YORK–(BUSINESS WIRE)– Pfizer Inc. (NYSE: PFE) announced today that it has completed the transaction to spin off its Upjohn Business and combine it with Mylan N.V. to form Viatris Inc.
What does Viatris Inc do?
Viatris empowers people worldwide to live healthier at every stage of life. We provide access to medicines, advance sustainable operations, develop innovative solutions and leverage our collective expertise to improve patient health.
What is Viatris dividend yield?
The current dividend yield for Viatris (NASDAQ:VTRS) is 3.55%.
What dividend does Viatris pay?
VTRS pays a dividend of $0.33 per share. VTRS’s annual dividend yield is 2.59%. Viatris’s dividend is higher than the US Drug Manufacturers – Specialty & Generic industry average of 2.18%, and it is lower than the US market average of 4.4%.
Pfizer shareholders were given a little more than 12 shares in Viatris for every 100 they held in Pfizer. Mylan shareholders got a Viatris share for every previous Mylan share they held.
What happens to cost basis in a spinoff?
Cost basis is the total amount that you paid for an investment, such as a stock. A spin-off occurs when a company divides itself into two or more pieces. If you own stock in a company that has a spin-off, the cost basis you have in the original company is divided amongst the resulting divisions.
What products does Viatris make?
Products. The company produces and sells a variety of medicines, with 1,400 approved therapeutic molecules in its portfolio. It owns brands (like Viagra, Xanax, Lipitor), generics, including branded and complex generics, biosimilars, and over-the-counter (OTC) drugs and active pharmaceutical ingredients.