Pfizer Limited has entered into a business transfer agreement with Mylan Pharmaceuticals to transfer certain primarily off-patent branded and generic established medicines business ("Upjohn Business") as a going concern to Mylan for a consideration of INR 180.48 crore. The consideration for the transfer of the Upjohn Business is supported by valuation reports issued by two independent valuers.

The Upjohn Business comprises six brands which include Lyrica, Viagra, Celebrex, Amlogard, Daxid and Dilantin. These along with related business assets and liabilities will transition to Mylan.

Pfizer Inc., USA had announced on July 29, 2019, that it had entered into a definitive agreement to combine its Upjohn Business which consists off-patented branded and generic established medicines with Mylan N.V., thereby creating a new global pharmaceutical Company, viz., Viatris Inc. The global transaction was closed in November 2020.

Further to this transaction six brands currently marketed by Pfizer in India, viz., Lyrica, Viagra, Celebrex, Amlogard, Daxid and Dilantin will transition to Mylan Pharmaceuticals. The transaction in India will be closed upon receipt of regulatory approvals.