A little less than a month after Pfizer’s Upjohn unit and Mylan successfully merged to create generics business Viatris, the company is already looking at ways to slash costs.
Newly mintedViatris Friday laid out detailed plans for a global manufacturinginitiative that could put thousands of jobs on the line. By 2024 at the latest, the company aims to wring at least $1 billion from its cost base, and it’s planning to close, downsize or divest up to 15 facilities to meet that goal.
Up to 20% of the generics business’s 45,000-strong workforcesome 9,000 stafferscould be impacted by the time therestructuring effort wraps, the company said in a release.