HERTFORDSHIRE, England and
PITTSBURGH, Aug. 5, 2016 /PRNewswire/ -- Mylan N.V.
(NASDAQ, TASE: MYL) today announced that it has completed the
settlement of its recommended public offer to the shareholders of
Meda Aktiebolag (publ.) to tender all their shares in Meda to Mylan
(the "Offer"). As previously announced, the Offer was accepted by
shareholders holding approximately 94% of the total number of
outstanding shares and votes in Meda, as of July 29, 2016. Upon the completion and settlement
of the Offer, Mylan acquired each of these shares in accordance
with the terms of the Offer. The Offer was initially announced on
Feb. 10, 2016 and it was declared
unconditional on Aug. 2, 2016. The
acceptance period expired on July 29,
2016 and will not be extended.
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Mylan Chairman Robert Coury
commented, "We are very pleased to have received the overwhelming
shareholder support required to complete our acquisition of Meda.
Mylan continues to differentiate itself among the world's
pharmaceutical companies in terms of our unique profile and growth
trajectory. The addition of Meda will only further add to our
existing leadership position within our space and continue to
create significant value for our shareholders and other
stakeholders. On behalf of Mylan's entire board of directors, we
welcome our new Mylan shareholders and look forward to them sharing
in the anticipated future success of our combined company."
Mylan CEO Heather Bresch
continued, "The addition of Meda builds on everything we have put
in place around the world, creating even greater scale, breadth and
diversity across products, geographies and sales channels. As a
result, our R&D and manufacturing platform is unmatched, and we
now have a more powerful global commercial infrastructure across
developed and emerging markets and branded, generic and
over-the-counter products. This transaction also is extremely
compelling financially, providing significant accretion to Mylan's
adjusted earnings per share, the opportunity for substantial
synergies and further acceleration of our growth. Importantly, I
would like to welcome Meda's talented and dedicated workforce to
the Mylan family, and I look forward to their contributions as we
strive to deliver better health for a better world."
Mylan President Rajiv Malik
added, "With the addition of Meda, Mylan now has six $1 billion therapeutic franchises, and through
our enhanced scale and expanded commercial capabilities, we see
significant opportunities to further distinguish Mylan among our
customers and patients. Allergy/respiratory, pain/CNS and
dermatology – recently bolstered by our acquisition of the
Renaissance topicals business – represent just a few of the
exciting areas where we expect to create additional value from our
combined portfolio, pipeline and capabilities. Meda also opens up a
number of new opportunities for us, such as significantly expanding
our over-the-counter presence into a $1
billion business. Additionally, Meda accelerates our
expansion in attractive emerging markets, such as China, Southeast
Asia, Russia and the
Middle East, and provides us
opportunities to maximize our efficient, high quality operating
platform and broad product portfolio. I too would like to extend a
warm welcome to the Meda team and am excited to begin integrating
our businesses and bringing together the best from both of our
organizations."
Meda is now a controlled subsidiary of Mylan. Mylan intends to
initiate compulsory acquisition proceedings for the remaining
shares in Meda in accordance with the Swedish Companies Act (Sw.
aktiebolagslagen (2005:551)) and has acted to have the Meda shares
delisted from Nasdaq Stockholm.
Mylan discloses the information provided herein pursuant to
Nasdaq Stockholm's Takeover Rules (the "Takeover Rules"). The
information was submitted for publication on Aug. 5, 2016, 15:00 CET.
Forward-Looking Statements
This communication contains "forward-looking statements." Such
forward-looking statements may include, without limitation,
statements about the acquisition of Meda by Mylan (the "Meda
Transaction"), the Offer, the benefits and synergies of the Meda
Transaction, future opportunities for Mylan, Meda, or the combined
company and products and any other statements regarding Mylan's,
Meda's or the combined company'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: uncertainties related to the Meda
Transaction; the ability to meet expectations regarding the
accounting and tax treatments of Mylan's acquisition (the "EPD
Transaction") of Mylan Inc. and Abbott Laboratories' non-U.S.
developed markets specialty and branded generics business (the "EPD
Business") and the Meda Transaction; changes in relevant tax and
other laws, including but not limited to changes in the U.S. tax
code and healthcare and pharmaceutical laws and regulations in the
U.S. and abroad; the integration of the EPD Business and Meda 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 EPD Transaction and the Meda Transaction;
the retention of certain key employees of the EPD Business and Meda
being difficult; the possibility that Mylan may be unable to
achieve expected synergies and operating efficiencies in connection
with the EPD Transaction and the Meda Transaction within the
expected time-frames or at all and to successfully integrate the
EPD Business and Meda; 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"); any
regulatory, legal, or other impediments to Mylan's ability to bring
new products to market; success of clinical trials and Mylan's
ability to execute on new product opportunities; any changes in or
difficulties with our inventory of, and our ability to manufacture
and distribute, the EpiPen® Auto-Injector to meet anticipated
demand; 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 impact of competition; changes in the economic
and financial conditions of the businesses of Mylan, Meda or the
combined company; 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; and 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 and related
standards or on an adjusted basis. For more detailed information on
the risks and uncertainties associated with Mylan's business
activities, see the risks described in Mylan's Annual Report on
Form 10-K for the year ended December 31,
2015, as amended, its Quarterly Report on Form 10-Q for the
three months ended March 31, 2016 and
its other filings with the SEC. These risks and uncertainties also
include those risks and uncertainties that are discussed in the
Offer Document that was published on June
16, 2016, the Registration Statement which was declared
effective on June 16, 2016 and the EU
Prospectus that was published on June 16,
2016. 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
communication, except as required by law.
Important Notice
This communication has been published
in Swedish and English. In the event of any discrepancy in content
between the language versions, the Swedish version shall prevail.
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 2,700 generic and branded
pharmaceuticals, including antiretroviral therapies on which
approximately 50% of people being treated for HIV/AIDS in the
developing world depend. We market our products in more than 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 40,000-strong workforce is dedicated
to creating better health for a better world, one person at a time.
Learn more at mylan.com.