Their merger isn’t official yet, but a new logo is ready to go.
Mylan and Pfizer’s Upjohn unit unveiled new branding for the to-be-combined company, dubbed Viatris, on Thursday with a tri-color scheme that plays off the Latin meaning of the new company’s name.
The reveal comes as the companies await Federal Trade Commission approval for their merger—now expected in the second half of this year—and a week after Mylan’s shareholders gave the deal their blessing.
Also part of the new image? A focus on shareholders, Viatris Chairman Robert Coury said after that vote, and a 25% dividend.
The logo’s three swatches in blue, yellow and purple are meant to represent three paths—the literal Latin meaning of the Viatris name. The colors stand for access, leadership and partnership, the companies said in a release, and surround a globe symbol designed to “illustrate the company’s core purpose of empowering people worldwide to live healthier at every stage of life.”
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The merger between Mylan and Upjohn, Pfizer’s off-patent drug unit, is now expected to close by year’s end after the COVID-19 pandemic delayed antitrust reviews of the deal. The combined drugmaker is projected to reap revenues between $19 billion and $20 billion annually, ranking it at the top of the generics industry.
The deal picked up European Union approval in April after the two companies agreed to sell some Mylan generic drugs across 20 countries in the European Economic Area and the U.K.
Mylan chairman and former CEO Robert Coury is on tap to serve as chairman at Viatris, while Upjohn chief Michael Goettler will take the helm as Viatris CEO. Mylan’s current CEO Heather Bresch will retire after the deal closes, and the generics maker’s CFO, Ken Parks, will also depart.
The rest of the Viatris 13-member board is a split group of executives and directors recast from both companies, including former Pfizer chairman and CEO Ian Read, two veteran Pfizer board members and eight current Mylan directors.
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After Mylan shareholders approved the merger June 30 in a 99% vote, Coury promised in a statement that Viatris would be launched “with a robust new business model focused on total shareholder return.” Part of that commitment to serving shareholders will be a dividend of at least 25%, Coury said.