Viatris (NASDAQ:VTRS) has completed the sale of its over-the-counter products business to French corporation Cooper Consumer Health for up to €1.95 billion in cash.

An initial cash consideration of €1.85 billion was paid at closing, with an additional €100 million contingent on future performance metrics.

The agreement also includes a €25 million partial advance payment for transition services fees.

The deal, initially announced in January, includes potential additional payments based on the buyer's future financial results.

Meanwhile, Viatris has retained €120 million from the proceeds, which will be released following the completion of the sale of certain business segments in specific regions, as stipulated in the transaction agreement.