MORGANTOWN — The next chapter for the former Mylan pharmaceutical manufacturing facility began Thursday, March 31, as a West Virginia University entity officially took ownership of the property on Chestnut Ridge Road in Morgantown.
The transfer, at a purchase price of $1, comes after the University signed a memorandum of understanding with Viatris last year to pursue a potential transfer of the former Mylan facility. The finalization of the purchase agreement is intended by both parties to result in the development of short, medium and long-term academic, employment and community opportunities for Morgantown and surrounding areas, as well as tuition scholarships for impacted Mylan employees.
Viatris Executive Chairman Robert J. Coury said, “Our goal has always been to identify a responsible new steward for this unique site that would secure the best possible future for the facility, our impacted employees and the Morgantown community, a community that continues to play an important and vital role for Viatris. I would like to personally recognize Gordon Gee and his entire leadership team for their extensive amount of work and research to outline a vision for the future of this site that does just that. Today’s announcement has the potential to create new academic, economic and job creation opportunities not only for Morgantown but for the entire State of West Virginia. I would also like to thank the University for its commitment to provide our impacted employees with a path to further their education and re-training to enhance their future employment opportunities.”
WVU and the West Virginia University Health System, commonly branded as WVU Medicine, will work together to oversee future development through a reconfigured WVU Innovation Corporation, which will handle the daily operations at the facility.
“We are pleased that Viatris placed its faith and trust in West Virginia University by engaging with us in this opportunity which combines WVU’s educational, entrepreneurial and research endeavors in new ways to make a real difference in our community,” WVU Vice President for Strategic Initiatives Rob Alsop said. “Governor Jim Justice, the West Virginia Department of Economic Development, Senators Manchin, Capito, and Congressman David McKinley, as well as local leaders here in Monongalia County, have been great partners as we develop plans and identify occupants for this exciting venture.”
Discussions are already underway with potential tenants to lease space within the 1.1 million square foot facility, according to WVU Health System President and CEO Albert L. Wright, Jr.
“This property holds a lot of potential for Morgantown, the region and the state. There is already a tremendous level of pioneering research being done through the University and the WVU Health System. We hope the WVU Innovation Corporation will be a business incubator that will harness that research, create jobs and lead to the development of goods and services that will benefit the people of West Virginia,” Wright said. “We are grateful for the support we have received from the Governor, Senators Capito and Manchin, Congressman McKinley and the State, and we look forward to seeing the space buzzing with activity once again.”
The WVU Innovation Corporation will reorganize its board of directors in the coming days and begin day-to-day management of the property.