HERTFORDSHIRE, England,
BANGALORE, India and PITTSBURGH, Nov. 20,
2015 /PRNewswire/ -- Mylan N.V. (NASDAQ, TASE: MYL)
today announced that its subsidiary, Mylan Laboratories Limited,
has successfully completed the acquisition of certain women's
healthcare businesses, now known as Jai Pharma, which were spun off
from Famy Care Limited. The transaction brings Mylan a broad
women's care portfolio, strong technical capabilities and dedicated
hormone manufacturing, which, when combined with Mylan's expansive
global commercial footprint and supply chain infrastructure, will
create a leading women's healthcare franchise.
Mylan CEO Heather Bresch
commented, "The completion of this transaction is an important
milestone as we continue to grow our global women's healthcare
franchise, and take another step in our mission to provide the
world's 7 billion people access to high quality medicine. In
addition to strengthening our women's healthcare offering in
North America, we will continue to
leverage our powerful commercial platform in Europe, now enhanced through our recent
Abbott deal, to serve this
important therapeutic area.
"Moreover, we look forward to building upon our existing
commercial presence in emerging markets by leveraging our global
supply chain and operational excellence to further accelerate our
growth. This will include building upon our existing women's care
portfolio in India and expanding
our reach in support of Family Planning 2020, a global partnership
that aims to enable 120 million more women and girls to use
contraceptives by 2020.
"We also are excited to welcome nearly 1,000 dedicated employees
to our family and look forward to their contributions as we strive
to create better health for a better world, one person at a
time."
The acquisition is expected to be immediately accretive to
Mylan's adjusted diluted earnings per share and Mylan's financial
leverage is not materially altered as a result of this
transaction.
This press release contains "forward-looking
statements." These statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements may include, without
limitation, statements about the benefits and synergies of Mylan's
acquisition of Jai Pharma (the "Jai Pharma Transaction"); that the
Jai Pharma Transaction brings Mylan a broad women's care portfolio,
strong technical capabilities and dedicated hormone manufacturing,
which, when combined with Mylan's expansive global commercial
footprint and supply chain infrastructure, will create a leading
women's healthcare franchise; that in addition to strengthening
Mylan's women's healthcare offering in North America, Mylan will leverage its
powerful commercial platform in Europe, now enhanced through its recent
Abbott deal, to serve this
important therapeutic area; that Mylan looks forward to building
upon its existing commercial presence in emerging markets by
leveraging its global supply chain and operational excellence to
further accelerate its growth, including building upon the existing
women's care portfolio in India
and expanding its reach in support of Family Planning 2020; that
the Jai Pharma Transaction is expected to be immediately accretive
to Mylan's adjusted diluted earnings per share; and any other
statements regarding Mylan's and Jai Pharma's future operations,
anticipated business levels, future earnings, planned activities,
anticipated growth, market opportunities, strategies, competition,
and other expectations and targets for future periods. These
may often be identified by the use of words such as "will", "may",
"could", "should", "would", "project", "believe", "anticipate",
"expect", "plan", "estimate", "forecast", "potential", "intend",
"continue", "target" and variations of these words or comparable
words. Because forward-looking 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: the ability to meet expectations
regarding the accounting and tax treatments of the Jai Pharma
Transaction; the integration of Jai Pharma being more difficult,
time-consuming, or costly than expected; operating costs, customer
loss and business disruption (including, without limitation,
difficulties in maintaining relationships with employees,
customers, clients, or suppliers) being greater than expected
following the Jai Pharma Transaction; the retention of certain key
employees of Jai Pharma being difficult; the possibility that Mylan
may be unable to achieve expected synergies and operating
efficiencies in connection with the Jai Pharma Transaction within
the expected time frames or at all and to successfully integrate
Jai Pharma; expected or targeted future financial and operating
performance and results; the capacity to bring new products to
market, including but not limited to where Mylan uses its business
judgment and decides to manufacture, market, and/or sell products,
directly or through third parties, notwithstanding the fact that
allegations of patent infringement(s) have not been finally
resolved by the courts (i.e., an "at-risk launch"); the scope,
timing, and outcome of any ongoing legal proceedings and the impact
of any such proceedings on financial condition, results of
operations and/or cash flows; the ability to protect intellectual
property and preserve intellectual property rights; the effect of
any changes in customer and supplier relationships and customer
purchasing patterns; the ability to attract and retain key
personnel; changes in third-party relationships; the impacts of
competition; changes in the economic and financial conditions of
the business of Jai Pharma; the inherent challenges, risks, and
costs in identifying, acquiring and integrating complementary or
strategic acquisitions of other companies, products or assets and
in achieving anticipated synergies; uncertainties and matters
beyond the control of management; inherent uncertainties involved
in the estimates and judgments used in the preparation of financial
statements, and the providing of estimates of financial measures,
in accordance with accounting principles generally accepted in
the United States of America and
related standards or on an adjusted basis; and the risks detailed
in Mylan's filings with the Securities and Exchange Commission. You
can access Mylan's filings with the SEC through the SEC website
at www.sec.gov, and Mylan strongly encourages you to
do so. Mylan undertakes no obligation to update any statements
herein for revisions or changes after the date of this press
release.
About Mylan
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 more than 1,400 generic and branded pharmaceuticals,
including antiretroviral therapies on which nearly 50% of people
being treated for HIV/AIDS in the developing world depend. We
market our products in approximately 165 countries and territories.
Our global R&D and manufacturing platform includes more than 50
facilities, and we are one of the world's largest producers of
active pharmaceutical ingredients. Every member of our more than
30,000-strong workforce 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.