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Mylan Inc (MYL)

  • Thu, Jul. 9, 8:28 AM
    • Mylan N.V. (NASDAQ:MYL) launches Bexarotene 75 mg Capsules, its generic version of Valeant Pharmaceuticals' (NYSE:VRX) Targretin Capsules, in the U.S. The product is indicated for the treatment of cutaneous t-cell lymphoma in patients who are refractory to at least one prior systemic therapy.
    • According to IMS, Bexarotene 75 mg generated ~$156M in sales in the U.S. for the twelve-month period ending in March.
    • Mylan has 270 ANDAs currently under FDA review.
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  • Mon, Jul. 6, 12:25 PM
    • Mylan N.V. (MYL +0.4%) jumps on the news that Teva Pharmaceutical Industries (TEVA +0.2%) intends to raise its offer for the firm to $88 per share from $86. The offer should come this week.
  • Wed, Jun. 24, 1:43 PM
    • Screen criteria: market cap >=$1B; average daily turnover >=400K shares; % change in mutual fund ownership (most recent qtr) >=0%; PEG ratio: <=1.0.
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  • Fri, Jun. 19, 10:42 AM
    • Teva Pharmaceutical Industries (TEVA +0.2%) completes its accumulation of a 4.61% stake on Mylan N.V. (MYL -0.3%) which enables Teva to commence proceedings before the Dutch Enterprise Chamber, should it become necessary.
    • In addition, Teva commits to limit its stake to less than 5% if Mylan holds its shareholders meeting no later than August 31.
  • Tue, Jun. 16, 5:30 PM
    • Pulmatrix (NASDAQ:PULM) enters into an ex-U.S. development agreement with Mylan N.V. (NASDAQ:MYL) for PUR0200, an investigational bronchodilator for the treatment of chronic obstructive pulmonary disease. The technology underpinning the product candidate is the company's iSPERSE platform, which enables the engineering of small, dense and easily dispersible particles which improves the efficiency of inhaled drugs. Financial terms are not disclosed.
    • Separately, the company announces a new drug candidate based on iSPERSE, PUR1900, an inhaled anti-infective for the potential treatment of fungal infections associated with cystic fibrosis. Preclinical data will be presented at a scientific meeting later this year.
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  • Thu, Jun. 11, 6:47 AM
    • Teva Pharmaceutical (NYSE:TEVA) has now raised its stake in Mylan (NASDAQ:MYL) to 3%, as part of its effort to acquire its rival, Globes reports.
    • Yesterday, Teva bought about 1.3M shares in Mylan for close to $100M and has now paid about $1.1B for a total of 14.9M shares.
    • Previously: Reuters: Teva set to raise stake in Mylan (Jun. 03 2015)
  • Wed, Jun. 10, 2:20 AM
    • A Pennsylvania judge has recommended Kirkland & Ellis be prevented from advising Teva Pharmaceutical (NYSE:TEVA) on its attempted takeover of Mylan (NASDAQ:MYL) after the law firm represented Mylan on other matters.
    • The report is likely to shake up a bitter, three-way takeover battle. Mylan has rejected Teva's bid in unusually harsh terms and is instead plowing ahead with its own, twice-rejected offer for Perrigo (NYSE:PRGO).
  • Mon, Jun. 8, 3:36 PM
    • In yet another letter, Mylan (MYL -0.5%) Executive Chairman Robert Coury wants (TEVA -0.9%) to answer two simple questions: Are you going to make a formal offer for us? If so, are you willing to do whatever the U.S. Federal Trade Commission stipulates to make the deal happen?
    • A response letter from Teva will, no doubt, be sent shortly.
  • Mon, Jun. 8, 1:15 PM
    • In a letter to Mylan (MYL -0.6%) Executive Chairman Robert Coury, Teva Pharmaceutical Industries' (TEVA +0.2%) President & CEO Erez Vigodman responds to Mylan's rather negative perceptions about the latter's intent regarding a takeover bid. Teva appears committed to getting a deal done and asserts that Mylan is the one who is holding things up.
    • Mylan is on the prowl for generic drug firm Perrigo (PRGO -0.9%), who keeps rejecting its offers, the latest at $34B. Teva made a $40B bid for Mylan in April that Mylan rejected.
  • Wed, Jun. 3, 1:47 AM
    • Raising additional legal concerns, Teva Pharmaceutical (NYSE:TEVA) is reportedly looking to purchase more shares in Mylan (NASDAQ:MYL), sources told Reuters.
    • Teva last week disclosed a 1.8% stake in Mylan, which blasted the move as breaching U.S. antitrust laws. Companies that acquire stakes worth more than $76.3M in rivals must first obtain regulatory approval.
    • The strategy is a sign of Teva's commitment to acquire Mylan, as the latter presses on with its own $34B hostile bid for Perrigo (NYSE:PRGO).
    • MYL rose 1% in after-hours trading.
  • Tue, Jun. 2, 8:28 AM
    • Perrigo (NYSE:PRGO) enters into a agreement to acquire a portfolio of over-the-counter brands from GlaxoSmithKline (NYSE:GSK) related to the latter's commitment to the European Commission to divest the businesses in connection with its consumer health joint venture with Novartis (NYSE:NVS).
    • Perrigo will buy GSK's NiQuitin nicotine replacement therapy (NRT) business, mostly in the European Economic Area (EEA) and Brazil and Novartis's Australian NRT business, including Nicotinell; several OTC brands including Coldrex (cold and flu med) in the EEA and Panodil (pain relief), Nezeril (nasal decongestant) and Nasin (nasal decongestant) in Sweden and Novartis's legacy cold sore management business in the EEA (Vectavir, Pencivir, Fenivir, Fenlips, Vectatone).
    • Financial terms are not disclosed.
    • CEO Joseph Papa says, "This acquisition demonstrates Perrigo's ability to execute on our "Base Plus Plus Plus" strategy in which we make selective, accretive transactions to expand our durable base business. We are building on the global platform we established with the Omega Pharma acquisition to capture an even greater share of the $30B European OTC market opportunity with several well-established complementary brands that bolster our OTC product portfolio." Mylan N.V. (NASDAQ:MYL) will, no doubt, have to sharpen its pencil yet again.
    • The transaction will be immediately accretive to Perrigo's 2015 non-GAAP EPS, excluding estimated tangible amortization and transaction-related costs. The deal should close in Q3.
  • Tue, Jun. 2, 3:29 AM
    • Mylan (NASDAQ:MYL) has accused Teva Pharmaceutical (NYSE:TEVA), which made a $40B unsolicited offer for the company in April, of violating U.S. anti-trust rules through its recent purchase of a 1.35% stake in the company.
    • Mylan, which is attempting to buy Perrigo (NYSE:PRGO) for $34B, also told Teva to "stop playing games" and either turn its $40B approach into a formal bid or walk away.
    • A takeover by Teva would torpedo any Mylan deal with Perrigo.
  • Tue, May 12, 3:05 AM
    • Mylan's (NASDAQ:MYL) Chairman Robert Coury told investors he may sweeten the company's offer for Perrigo (NYSE:PRGO) by adding terms that would reduce the risk to its shareholders.
    • Coury laid out scenarios that could play out in the future and had even suggested that a Mylan-Perrigo combination could be an attractive target for Pfizer (NYSE:PFE), sources told Bloomberg.
    • Mylan has been attempting to buy Perrigo for $34B (in an unsolicited offer that is expected to turn hostile), while rebuffing a takeover bid from Teva (NYSE:TEVA).
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  • Mon, May 11, 11:29 AM
    • Teva Pharmaceutical Industries (TEVA +1.5%) is reportedly seeking $25B in financing to help fund its bid for Mylan (MYL -1.1%). The company is rumored to be working on a higher offer after Mylan rejected its first bid of $40.1B.
    • Previously: Mylan rejects $40B Teva bid (April 27)
  • Fri, May 8, 5:23 PM
    • Mylan (NASDAQ:MYL) management is meeting privately with top investors this week to gain support for its $34B bid for Perrigo (NYSE:PRGO), which last week rejected MYL's latest offer worth $75 and 2.3 MYL shares per PRGO share, and defend itself from Teva Pharmaceuticals' (NYSE:TEVA) $40B takeover bid.
    • WSJ's Ronald Barusch relays a report from a Bernstein analyst who met with MYL executives that suggests MYL “could not be clearer” that it is not working primarily for its shareholders; according to the report, when the Bernstein analyst suggested in determining whether to vote for the PRGO deal that MYL shareholders would need to compare it with the Teva offer, MYL disagreed and said its shareholders needed to choose between PRGO and an uncertain Teva deal two years away.
    • MYL management said shareholders will be in a “tough place” and choose the PRGO deal, the analyst report said; WSJ's Barusch says an acknowledgment that a board has put its own shareholders in a "tough place" is surprising.
    • MYL argues that Teva is the wrong company to acquire MYL; in fact, Executive Chairman Robert Coury says MYL not only is not willing to sell itself to Teva but would consider buying Teva at some point after completing its offer for PRGO, according to a Reuters report.
  • Wed, May 6, 10:12 AM
    • Mylan (MYL -0.6%) Q1 results: Revenues: $1,871.7M (+9.1%); COGS: $1,041.6M (+6.5%); R&D Expense: $169.9M (+44.0%); SG&A: $483.2M (+27.9%); Operating Income: $159.3M (-33.3%); Net Income: $56.6M (-51.2%); EPS: $0.13 (-55.2%); Quick Assets: $277.2M (+22.9%).
    • No guidance given.
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Company Description
Mylan NVtogether with its subsidiaries, is a pharmaceutical company, which develops, licenses, manufactures, markets and distributes generic, branded generic and specialty pharmaceuticals.
Sector: Healthcare
Industry: Drugs - Generic
Country: United States