US-based global healthcare leader Viatris (formerly Mylan and Upjohn) has finalised agreements to divest business segments including its women’s healthcare and Active Pharmaceutical Ingredients (API) divisions.
The divestments carry a substantial value of USD1.2 billion. The API business in India will be transferred to Iquest Enterprises, while the women’s healthcare business, specialising in contraceptives, will be divested to Insud Pharma. This move streamlines Viatris’ operations both in India and globally.
Saraf and Partners advised Viatris through the transaction. The firm’s involvement included structuring the deal, due diligence support, regulatory checks, and negotiating and finalising crucial deal documents with the buyer.
The firm identified potential challenges related to business continuity and offered practical solutions to ensure a seamless transition of operations to the buyers. The Saraf team was led by the firm’s founder and managing partner, Mohit Saraf, along with senior partner Bikash Jhawar and partner Nipun Vaid.
Partner Akshayy Nanda provided expertise on competition-related aspects of the deal, while partner Sahil Arora contributed to foreign direct investment considerations. Partner Amit Gupta worked on the deal’s tax-related aspects; partner Akshay Jain advised on employment law matters.
Saraf and Partners will continue executing the transaction, including fulfilling conditions precedent, meeting closing requirements and addressing post-closing responsibilities.
