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Mylan comments on recent bid speculation

Tuesday, April 21, 2015

Mylan executive chairman Robert J. Coury has commented on recent media speculation about a takeover bid from Teva.

“We note that there has been some media speculation with regard to a potential bid for Mylan by Teva and that this rumor has been circulating for some time. Although it has been company policy not to comment on such media speculation, given current circumstances we believe it is appropriate to do so now,” said Coury.

“Mylan is fully committed to its standalone strategy, including its proposal to acquire Perrigo, and today’s speculation has no impact whatsoever on this strategy,” he said. “We have studied the potential combination of Mylan and Teva for some time and we believe it is clear that such a combination is without sound industrial logic or cultural fit. Further, there would be significant overlap in the companies’ businesses and we believe it is unlikely any such combination could obtain anti-trust regulatory clearances.”

“Should any party make an actual offer to acquire Mylan, the board would carefully consider it in exercising its fiduciary duties in the best interests of the company, our stockholders and other stakeholders,” said Coury.

Mylan, a global pharma company with a portfolio of around 1,400 generic pharmaceuticals and several brand medications, has 30,000 employees. It offers a range of antiretroviral therapies and currently market products in about 145 countries and territories.

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