Viatris in talks to gift shuttered plant to WVU
Viatris Inc. says it hasn’t been able to find a buyer for its shuttered flagship pharmaceuticals plant in Morgantown, W.Va., so it is trying to work out a plan to give the facility to West Virginia University.
The company said it “worked diligently” to find someone to keep the drug plant operating but has been unsuccessful.
“We believe that the same industry and market dynamics that prompted our decision [to close the plant] have resulted in no such viable proposals being received to date,” the company said in a statement Wednesday.
Shortly after it was formed by the merger of Mylan and Upjohn late last year, Viatris announced it would close the 56-year-old facility as part of a restructuring. The bulk of the roughly 1,500 employees were laid off at the end of July, while some continue to perform shutdown duties.
On Wednesday, Viatris said it remained open to any new expressions of interest but would move forward with plans for “the next best possible future outcome” for the Chestnut Ridge Road site.
“When thinking about responsible new stewards for the site ... we determined that pursuing formal discussions at this time with WVU and its affiliates is the absolute right next step to consider,” Executive Chairman Robert Coury said in a statement.
WVU President Gordon Gee said he was pleased Viatris reached out.
“While we are at the start of this potential new beginning, I can say with certainty that we are excited to reach an agreement, and if so, we are committed to working with our local, state and federal partners to create public and private sector jobs. We also will prioritize retraining and educational opportunities for recently impacted employees,” he said.
Mr. Coury said it was only natural that the company consider transferring ownership of the plant to WVU in light of the love and respect the late Mylan co-founder Milan Puskar had for the school.
The United Steelworkers union, which represents about 850 employees at the plant, has been pushing state legislators to help find a buyer who would maintain the facility and its jobs.
Although the plant is closed, Viatris has said it will keep research and development operations in Morgantown.