HERTFORDSHIRE, England and
PITTSBURGH, Nov. 16, 2015 /PRNewswire/ -- Mylan N.V.
(NASDAQ, TASE; MYL) today announced that the Board of Directors of
Mylan N.V. (the "Company") has authorized share repurchases by the
Company of its ordinary shares in an amount up to $1 billion, either in the open market through
privately-negotiated transactions or in one or more self tender
offers. The repurchase program does not obligate the Company to
acquire any particular amount of ordinary shares. The authorization
expires on Aug. 27, 2016.
Mylan's Executive Chairman Robert J.
Coury commented, "As indicated last week, we remain focused
on utilizing the optionality provided by Mylan's strong balance
sheet and ample financial flexibility in pursuit of external
opportunities that further build on our existing platform and
position us for continued growth and value creation, and we have
already identified a number of potential opportunities. That said,
the Board's authorization of an up to $1
billion share repurchase provides us with optimal
flexibility and allows us to be opportunistic in repurchasing
shares, thereby investing in Mylan's strong growth prospects and
exciting future, which we continue to believe are substantially
undervalued."
This press release includes statements that constitute
"forward-looking statements," including with regard to Mylan's
$1 billion share repurchase plan; its
focus on utilizing the optionality provided by Mylan's strong
balance sheet and ample financial flexibility in pursuit of
external opportunities that further build on its existing platform
and position it for continued growth and value creation; the
statement about Mylan's strong growth prospects and exciting
future, which Mylan believes are substantially undervalued.
These statements are made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. Because
such statements inherently involve risks and uncertainties, actual
future results may differ materially from those expressed or
implied by such forward-looking statements. Factors that
could cause or contribute to such differences include, but are not
limited to: market conditions, disruptions and volatility; access
to capital; the use of legal, regulatory and legislative strategies
by competitors or other third parties to delay or prevent our
introduction of new products; actions taken by regulatory and
governmental agencies with respect to our or our competitors'
current or future products; success of clinical trials and our
ability to execute on new product opportunities; other risks
inherent in legal and regulatory processes, uncertainties and
matters beyond the control of management; and the other risks
detailed in the company's filings with the Securities and Exchange
Commission. The company undertakes no obligation to update these
statements for revisions or changes after the date of this
release.
Mylan is a global pharmaceutical company committed to setting
new standards in healthcare. Working together around the world to
provide 7 billion people access to high quality medicine, we
innovate to satisfy unmet needs; make reliability and service
excellence a habit; do what's right, not what's easy; and impact
the future through passionate global leadership. We offer a growing
portfolio of around 1,400 generic pharmaceuticals and several brand
medications. In addition, we offer a wide range of antiretroviral
therapies, upon which nearly 50% of HIV/AIDS patients in developing
countries depend. We also operate one of the largest active
pharmaceutical ingredient manufacturers and currently market
products in about 145 countries and territories. Our workforce of
approximately 30,000 people is dedicated to creating better health
for a better world, one person at a time. Learn more at
mylan.com.
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SOURCE Mylan N.V.