POTTERS BAR, England,
March 31, 2015 /PRNewswire/
-- Mylan N.V. (NASDAQ: MYL) today announced the pricing of the
underwritten public offering (the "Offering") of 35,000,000
ordinary shares held by certain subsidiaries of Abbott Laboratories
("Abbott"), at $58.35 per share.
Abbott has also granted the underwriters an option to purchase an
additional 5,250,000 ordinary shares. The net proceeds from the
Offering will be approximately $1.99
billion (or $2.29 billion if
the option is exercised) after estimated underwriting discounts,
commissions and offering expenses. Mylan will not sell any ordinary
shares in the Offering and will not receive any of the proceeds
from the Offering. The 35,000,000 ordinary shares being sold (or
40,250,000 ordinary shares if the underwriters' option is
exercised) represent 31.8% or (36.6% if the option is exercised) of
the 110,000,000 ordinary shares currently owned by Abbott.
Morgan Stanley & Co. LLC and Goldman, Sachs & Co. are
acting as joint book-running managers for the Offering. A shelf
registration statement (including prospectus) relating to the
ordinary shares to be sold in the Offering is effective with the
Securities and Exchange Commission (the "SEC"). Before you invest,
you should read the prospectus and any documents filed with the SEC
for more complete information about the Company and this Offering.
Copies of these documents are available for free on the SEC's
website at www.sec.gov. The Offering may be made only by means of a
prospectus supplement and a prospectus. A copy of the prospectus
supplement and the prospectus relating to the Offering can be
obtained from: (i) Morgan Stanley & Co. LLC, 180
Varick Street, 2nd Floor, New
York, NY 10014, Attention: Prospectus Department and (ii)
Goldman, Sachs & Co., 200 West Street, New York, NY 10282, Attn: Prospectus
Department, toll free at +1-866-471-2526 or at
prospectus-ny@ny.email.gs.com.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, any securities, nor shall there be
any sale of securities mentioned in this press release in any
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. The Offering will only be
made by means of the prospectus and the prospectus supplement.
Mylan N.V. is considered the successor to Mylan Inc. for certain
purposes under the Securities Act of 1933 and the Securities
Exchange Act of 1934.
Forward-Looking Statements
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 acquisition (the
"Transaction") by the Company of both Mylan Inc. and the non-U.S.
developed markets specialty and branded generics business (the
"Acquired Abbott Business") of Abbott, benefits and synergies of
the Transaction, future opportunities for the Company and its
products, and any other statements regarding the Company's
statements about future opportunities for the Company and its
products and any other statements regarding the 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 often may 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 Transaction; changes in relevant tax and other laws, including
but not limited to changes in healthcare and pharmaceutical laws
and regulations in the U.S. and abroad; the integration of the
Acquired Abbott Business 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 Transaction;
the retention of certain key employees of the Acquired Abbott
Business being difficult; the possibility that the Company may be
unable to achieve expected synergies and operating efficiencies in
connection with the Transaction within the expected time-frames or
at all and to successfully integrate the Acquired Abbott Business;
expected or targeted future financial and operating performance and
results; the capacity to bring new products to market, including
but not limited to where the Company 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"); success of clinical trials and the
Company's ability to execute on new product opportunities; 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 Company's business; 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 other risks
detailed in the Company's and Mylan Inc.'s filings with the SEC.
You can access the Company's and Mylan Inc.'s respective filings,
including the Company's prospectus filed with the SEC on
December 24, 2014, and Mylan Inc.'s
Annual Report on Form 10-K for the year ended December 31, 2014 filed with the SEC on
March 2, 2015, through the SEC's
website at www.sec.gov, and the Company strongly encourages you to
do so. The Company undertakes no obligation to update any
statements herein for revisions or changes after the date of this
press 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 approximately 40% 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.