With a goal of reducing its cost base by at least $1bn by 2024, Viatris has delivered plans to significantly restructure its global manufacturing network. Up to 20% of Viatris’ 45,000-strong workforce could be impacted by the initiative which will see the firm close, divest or downsize 15 of its manufacturing plants around the globe.
Viatris promised a significant restructuring when its two component companies, Mylan and Pfizer’s Upjohn, completed their merger last month, and it has delivered.
Up to 20% of the company’s workforce, or up to 9,000 jobs, are set to be impacted by the closure,...