Cover Page
Cover Page - shares | 3 Months Ended | |
Mar. 29, 2020 | May 11, 2020 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2020 | |
Document Period End Date | Mar. 29, 2020 | |
Document Fiscal Period Focus | Q1 | |
Current Fiscal Year End Date | --12-31 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity Registrant Name | Upjohn Inc | |
Entity Central Index Key | 0001792044 | |
Entity File Number | 000-56114 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 83-4364296 | |
Entity Address, Address Line One | 235 East 42nd Street | |
Entity Address, City or Town | New York | |
Entity Address, State or Province | NY | |
Entity Address, Postal Zip Code | 10017 | |
City Area Code | 212 | |
Local Phone Number | 733-2323 | |
Title of 12(b) Security | None | |
No Trading Symbol Flag | true | |
Entity Current Reporting Status | No | |
Entity Interactive Data Current | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Shell Company | true | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 100 |
Consolidated Statement of Incom
Consolidated Statement of Income - USD ($) | 2 Months Ended | 3 Months Ended |
Mar. 31, 2019 | Mar. 29, 2020 | |
Income Statement [Abstract] | ||
Revenues | $ 0 | $ 0 |
Operating expenses | 0 | 0 |
Other (income)/deductions—net | 0 | 0 |
Income before provision/(benefit) for taxes on income | 0 | 0 |
Provision/(benefit) for taxes on income | 0 | 0 |
Net income | $ 0 | $ 0 |
Earnings per common share—basic | $ 0 | $ 0 |
Weighted-average common shares—basic | 100 | 100 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - USD ($) | 2 Months Ended | 3 Months Ended |
Mar. 31, 2019 | Mar. 29, 2020 | |
Net income | $ 0 | $ 0 |
Other comprehensive income/(loss) before tax | 0 | 0 |
Tax provision/(benefit) on other comprehensive income/(loss) | 0 | 0 |
Other comprehensive income/(loss) | 0 | 0 |
Comprehensive income attributable to Upjohn Inc. | $ 0 | $ 0 |
Consolidated Balance Sheet
Consolidated Balance Sheet - USD ($) | Mar. 29, 2020 | Dec. 31, 2019 |
Assets | ||
Total current assets | $ 0 | $ 0 |
Total assets | 0 | 0 |
Liabilities and Equity | ||
Total current liabilities | 0 | 0 |
Total liabilities | 0 | 0 |
Commitments and Contingencies | ||
Common stock, $0.01 par value; 1,000 shares authorized; issued: 2020—100 shares; 2019—100 shares | 1 | 1 |
Additional paid-in capital | 0 | 0 |
Due from shareholder | (1) | (1) |
Retained earnings | 0 | 0 |
Accumulated other comprehensive income/(loss) | 0 | 0 |
Total Upjohn Inc. shareholder's equity | 0 | 0 |
Total liabilities and equity | $ 0 | $ 0 |
Consolidated Balance Sheet (Par
Consolidated Balance Sheet (Parenthetical) - $ / shares | Mar. 29, 2020 | Dec. 31, 2019 |
Statement of Financial Position [Abstract] | ||
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 1,000 | 1,000 |
Common stock, shares issued | 100 | 100 |
Consolidated Statement of Equit
Consolidated Statement of Equity - USD ($) | Total | Common Stock [Member] | Add'l Paid-In Capital [Member] | Due From Share Holder [Member] | Retained Earnings [Member] | Accum. Other Comp. Income/ (Loss) [Member] |
Balance (Shares) at Feb. 13, 2019 | 100 | |||||
Balance at Feb. 13, 2019 | $ 0 | $ 1 | $ 0 | $ (1) | $ 0 | $ 0 |
Net income | 0 | 0 | ||||
Other comprehensive income/(loss), net of tax | 0 | 0 | ||||
Balance (Shares) at Mar. 31, 2019 | 100 | |||||
Balance at Mar. 31, 2019 | 0 | $ 1 | 0 | (1) | 0 | 0 |
Balance (Shares) at Dec. 31, 2019 | 100 | |||||
Balance at Dec. 31, 2019 | 0 | $ 1 | 0 | (1) | 0 | 0 |
Net income | 0 | 0 | ||||
Other comprehensive income/(loss), net of tax | 0 | 0 | ||||
Balance (Shares) at Mar. 29, 2020 | 100 | |||||
Balance at Mar. 29, 2020 | $ 0 | $ 1 | $ 0 | $ (1) | $ 0 | $ 0 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - USD ($) | 2 Months Ended | 3 Months Ended |
Mar. 31, 2019 | Mar. 29, 2020 | |
Operating Activities | ||
Net income | $ 0 | $ 0 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Other changes in assets and liabilities: | 0 | 0 |
Net cash provided by operating activities | 0 | 0 |
Investing Activities | ||
Net cash provided by investing activities | 0 | 0 |
Financing Activities | ||
Net cash provided by financing activities | 0 | 0 |
Effect of exchange-rate changes on cash and cash equivalents | 0 | 0 |
Net increase/(decrease) in cash and cash equivalents | 0 | 0 |
Cash and cash equivalents, beginning | 0 | 0 |
Cash and cash equivalents, end | 0 | 0 |
Supplemental Cash Flow Information | ||
Income taxes | 0 | 0 |
Interest | $ 0 | $ 0 |
Organization and Basis of Prese
Organization and Basis of Presentation | 3 Months Ended |
Mar. 29, 2020 | |
Accounting Policies [Abstract] | |
Organization and Basis of Presentation | Note 1. Organization and Basis of Presentation A. Organization Upjohn Inc. (the “Company” or “Upjohn”), a Delaware corporation, was formed on February 14, 2019, and is currently a wholly-owned subsidiary of Pfizer Inc. (“Pfizer”). The Company has two wholly-owned subsidiaries, Utah Acquisition Holdco Inc. and Utah Acquisition Sub Inc., both of which are Delaware corporations formed on July 25, 2019. The Company and its subsidiaries have not commenced operations, have no significant assets or liabilities and have not conducted any material activities other than those incidental to its formation from February 14, 2019, its date of incorporation, through March 29, 2020. On February 13, 2020, the United States Securities and Exchange Commission (the “SEC”) declared effective the Registration Statement on Form S-4, off-patent all-stock On July 29, 2019, Pfizer announced it had entered into a definitive agreement to combine the Company with Mylan. Under the terms of the Transaction, Pfizer will contribute the Upjohn Business, a business unit of Pfizer, to the Company. The Company will be spun-off split-off B. Basis of Presentation The Company prepared the accompanying condensed consolidated financial statements following the requirements of the SEC for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by accounting principles generally accepted in the United States of America (“U.S. GAAP”) can be condensed or omitted. The financial information included in the Company’s condensed consolidated financial statements is as of and for the three months ended March 29, 2020 and for the period from February 14, 2019 (date of incorporation) to March 31, 2019. Revenues, expenses, assets and liabilities can vary during each quarter of the year. Therefore, the results and trends in these interim financial statements may not be representative of those for the full year. The Company is responsible for the unaudited financial statements included in this Quarterly Report on Form 10-Q. 10-Q 10-K. |
Equity
Equity | 3 Months Ended |
Mar. 29, 2020 | |
Stockholders' Equity Note [Abstract] | |
Equity | Note 2. Equity As of March 29, 2020 and December 31, 2019, the Company is authorized to issue shares of common stock, par value $ per share. As of March 29, 2020 and December 31, 2019, there were 100 shares of common stock, par value of $0.01 per share, of the Company issued and outstanding. All such issued and outstanding shares of common stock were held by Pfizer. Due from shareholder represents a receivable from Pfizer of $1 in connection with the issuance of the Company’s common stock. |
Organization and Basis of Pre_2
Organization and Basis of Presentation (Policies) | 3 Months Ended |
Mar. 29, 2020 | |
Accounting Policies [Abstract] | |
Basis of Presentation | B. Basis of Presentation The Company prepared the accompanying condensed consolidated financial statements following the requirements of the SEC for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by accounting principles generally accepted in the United States of America (“U.S. GAAP”) can be condensed or omitted. The financial information included in the Company’s condensed consolidated financial statements is as of and for the three months ended March 29, 2020 and for the period from February 14, 2019 (date of incorporation) to March 31, 2019. Revenues, expenses, assets and liabilities can vary during each quarter of the year. Therefore, the results and trends in these interim financial statements may not be representative of those for the full year. The Company is responsible for the unaudited financial statements included in this Quarterly Report on Form 10-Q. 10-Q 10-K. |
Organization and Basis of Pre_3
Organization and Basis of Presentation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Billions | 6 Months Ended | |||
Dec. 31, 2020 | Mar. 29, 2020 | Dec. 31, 2019 | Jul. 29, 2019 | |
Common stock, par value | $ 0.01 | $ 0.01 | ||
Pfizer Stockholders [Member] | ||||
Ownership percent | 57.00% | |||
Pfizer Stockholders [Member] | Scenario Forecast [Member] | ||||
Debt in connection with its separation from parent company | $ 12 | |||
Business combination, partial consideration transferred | $ 12 | |||
Mylan Shareholders [Member] | ||||
Ownership percent | 43.00% |
Equity - Additional Information
Equity - Additional Information (Detail) - USD ($) | Mar. 29, 2020 | Dec. 31, 2019 |
Stockholders' Equity Note [Abstract] | ||
Common stock, shares authorized | 1,000 | 1,000 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares issued | 100 | 100 |
Common stock, shares outstanding | 100 | 100 |
Due from shareholder | $ 1 | $ 1 |