|View printer-friendly version|
|July 27, 2015 4:31 a.m.|
|Teva Withdraws Proposal to Acquire Mylan|
“In light of our strategic acquisition of Allergan Generics, which will
transform the industry, our Board and management team has decided that
withdrawing the proposal to acquire Mylan is in the best interests of
Teva stockholders,” said Erez Vigodman, President and CEO of Teva.
“Since announcing the proposal to acquire Mylan on
Mr. Vigodman continued, “We continue to believe that a combination of
Teva and Mylan would have made sense for our companies, our respective
stockholders and the healthcare industry as a whole. However, despite
our clear commitment to consummating a transaction, and our conviction
that we ultimately would have succeeded in acquiring Mylan, we believe
we have an even greater opportunity to create compelling, sustainable
value for Teva’s stockholders through our transaction with
Teva intends to review its options with respect to its ownership of approximately 4.6% of the outstanding ordinary shares of common stock of Mylan.
Safe Harbor Statement
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995, which
are based on Teva’s current beliefs and expectations and involve a
number of assumptions, known and unknown risks and uncertainties that
change over time and could cause future results, performance or
achievements to differ materially from the results, performance or
achievements expressed or implied by such forward-looking statements.
These assumptions, known and unknown risks and uncertainties include,
but are not limited to, those discussed in our Annual Report on Form
20-F for the year ended
This document may contain certain non-GAAP financial measures. Reconciliations between the non-GAAP financial measures and the GAAP financial measures are available on the company’s website at http://ir.tevapharm.com.
Teva Pharmaceutical Industries Ltd.