Perrigo Board unanimously rejects unsolicited US$29bn bid from Mylan

Published: 22-Apr-2015
Finance

Says it substantially undervalues the company and ignores key factors


Perrigo said its Board of Directors has unanimously rejected the unsolicited takeover bid from Mylan, saying it 'substantially undervalues the company and its future growth prospects'.

Earlier this month Mylan offered to buy Perrigo for $205 per share in cash and stock.

Joseph Papa, Chairman, President and CEO of Perrigo, said Mylan had not taken key factors into account, including its global distribution platform, innovative new product pipeline, which is expected to generate nearly $1bn in net sales over the next three years, and the full benefits of the Omega Pharma acquisition, which closed on 30 March.

  • Companies:
  • Perrigo
See more

You may also like

Media

Hikma enters into licensing partnership with Perrigo in MENA

Read more
The partnership will provide significant collaboration opportunity

Trending Articles

  1. Syncona launches early-stage drug development company, Slingshot Therapeutics The novel early-stage pharmaceutical company aims to collaborate with academic institutions to bring their findings to the clinic, with their first programme centring around inflammatory disease
  2. Ascend Advanced Therapies expands US footprint through Advanced BioScience Laboratories merger Ascend's collaboration with EW Healthcare partners will expand its reach in the US pharmaceutical market through capital investment and an uptick in GMP AAV manufacturing capacity
  3. Merck attains $588m global license for PD-1/VEGF bispecific antibody from LaNova Medicines The bispecific antibody is designed for oncological indications and functions by inhibiting the PD-1/PD-L1 and the VEGF/VEGFR receptor signalling pathways
  4. Accord Healthcare bolsters UK drug manufacturing capabilities with £50m Newcastle facility The novel automated facility will allow Accord to produce therapeutics for oncological and autoimmune diseases for the UK and beyond
  5. AstraZeneca to stop production of Pulmicort pMDI Agreements with SkyePharma expected to be terminated

Upcoming event

CPhI India

26–28 November 2024 | Online Conference & Networking | Delhi, India See all

You may also like

Media

Hikma enters into licensing partnership with Perrigo in MENA

The partnership will provide significant collaboration opportunity
Finance

Mylan fails in US$26bn hostile takeover bid for Perrigo

Not enough shareholders supported the deal
Finance

Perrigo to acquire OTC brands from GSK

In the areas of nicotine replacement therapy, cold and flu, and cold sore management
Drug Delivery

Perrigo acquires Patheon's Mexican operations for US$34m

Strengthening its capabilities with the addition of softgel manufacturing technology
Finance

Mylan offers to buy Perrigo for US$29bn

The combination would have 'critical mass' in speciality brands, generics, OTC and nutritional products
Finance

Perrigo to purchase Omega Pharma for €3.6bn

Expanding its over-the-counter product portfolio
Finance

Perrigo to buy Elan for US$8.6bn

Will form a new company incorporated in Ireland to be called Perrigo Company plc or a variant thereof
Subscribe now