Pharmacy Daily | Teva ups the Mylan $s

Teva Pharmaceutical Industries is continuing to stalk rival Mylan, with a number of reports indicating an increase on its previous bid for the company made in Apr this year. Teva has already increased its stake in Mylan to almost 2.2%, with a regulatory filing indicating it had accumulated about 10.5 million shares in Mylan some weeks ago. However a Wall Street Journal report says this could have breached US antitrust laws which bar firms from acquiring significant stakes in competitors without first obtaining regulatory approval. Mylan is claiming protection on that basis because although it is incorporated in the Netherlands, its principal offices are in the US. If Teva were to take over Mylan the combination would have more than US$27 billion in revenue. Earlier this year Mylan acquired Abbott Laboratories’ non-US developed markets specialty and branded generics business. Mylan is the parent company of Australia-based Alphapharm.

---

The above article was sent to subscribers in Pharmacy Daily's issue from 08 Jul 15
To see the full newsletter, see the embedded issue below or CLICK HERE to download Pharmacy Daily from 08 Jul 15