(Reuters) – Viatris said on Tuesday that its unit Mylan is no longer a subject of the U.S. Department of Justice’s antitrust investigation into alleged price fixing in the generic drug industry.
Viatris was formed through the merger of Mylan and Pfizer’s Upjohn in 2020.
Mylan and several major drugmakers such as Israel’s Teva Pharmaceutical Industries and India’s Sun Pharmaceutical Industries have been under the DOJ’s investigation for more than eight years over alleged anti-competitive business practices in fixing prices of certain generic drugs.
Multiple states have also filed lawsuits against those companies for alleged antitrust behavior.
The DOJ has informed Viatris that it does not expect to take any further actions related to the pricing and sales of its generic drugs.
Viatris said it would continue to defend itself against the remaining civil lawsuits pertaining to these matters.
Shares of Pennsylvania-based Viatris were up 1.5% in premarket trading.
(Reporting by Christy Santhosh; Editing by Shilpi Majumdar)
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