Seeking Alpha

Mylan set to buy Abbott drug assets

  • Reuters reports that generic drug firm Mylan (MYL -1%) is in advanced negotiations with Abbott Laboratories (ABT +0.1%) to purchase a multibillion dollar portfolio of its established off-patent Europe-based drugs. The transaction is a tax inversion deal that will enable Mylan to redomicile in Switzerland.
  • Mylan has been in the hunt for foreign assets since its failed attempt to buy Swedish drugmaker Meda AB earlier this year. Its two main competitors, (TEVA +0.9%) and Actavis (ACT +0.5%) are domiciled in lower tax countries.
  • Abbott will use the proceeds of the sale, rumored to be as high as $5B, to invest in higher growth opportunities.
From other sites
Comments (3)
  • jozpad
    , contributor
    Comments (11) | Send Message
    More companies Lviv America ....... Keep the taxes going dems.... Won't b long til it's all over.
    12 Jul 2014, 02:34 PM Reply Like
  • TertiumQuid
    , contributor
    Comments (23) | Send Message
    You're lucky that it's NOT over after the most catastrophic, devastatingly disastrous presidential sewage of all time perpetrated one last "eff you, Americans!" -- The Great Bush Recession -- before oozing away into the ignominious and shameful sewers of history. I'll take our President's 144% market recovery over some whining, excuse-making nutbagger any day.
    14 Jul 2014, 03:39 AM Reply Like
  • Scootrd
    , contributor
    Comments (219) | Send Message
    If I were to submit an article to SA it would be an update to Barry Cohen's 2011 article titled "Investors Still Must Pick Generic Drug Companies By Hand" High-risk copycat sector still without an ETF.


    It's time for a Generic Drug ETF !!!!



    Just my two cents
    13 Jul 2014, 01:49 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs