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.
Comments (3)
  • jozpad
    , contributor
    Comments (5) | Send Message
     
    More companies Lviv America ....... Keep the taxes going dems.... Won't b long til it's all over.
    12 Jul, 02:34 PM Reply Like
  • TertiumQuid
    , contributor
    Comments (18) | 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, 03:39 AM Reply Like
  • Scootrd
    , contributor
    Comments (150) | 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 !!!!

     

    http://bit.ly/1klGVQM

     

    Just my two cents
    13 Jul, 01:49 PM Reply Like
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