Connecting to LinkedIn...

W1siziisijiwmtuvmdqvmtuvmdgvntqvmzgvnzi1l01ptlrbu0hfqkxpr19vtljftkrfukvex0lnqudfx3jlc2l6zwrfyw5kx3jlbmrlcmvklmpwzyjdlfsiccisinrodw1iiiwimtkymhgxmjuwiyjdxq

Blog

Mylan to Buy Abbott’s Generic Drug Business Outside U.S. for $5.3 Billion

14/07/2014 by

W1siziisijiwmtqvmtavmjgvmtuvmzmvmtyvnti3l2zpbguixsxbinailcj0ahvtyiisijywmhg0mdbcdtawm2uixv0

Abbott Laboratories said on Monday that it had agreed to sell its established generic drug business outside the United States to the generic drug maker Mylan in an all-stock deal that valued at about $5.3 billion.

Under the deal, Abbott will take a 21 percent stake worth about $5.3 billion in a new company that combines Mylan’s existing business with Abbott’s developed markets pharmaceuticals operations in Europe, Japan, Canada, Australia and New Zealand.

The transaction will allow Mylan to engage in a so-called inversion: the Pennsylvania company would reincorporate in the Netherlands to lower its corporate taxes and to free up cash held in overseas entities.

Mylan, whose headquarters are in Pittsburgh, unsuccessfully pursued the Swedish drug maker Meda this year in hopes of engaging in an inversion.

“We have been actively looking at a wide range of opportunities, and the acquisition of this business is absolutely the right next strategic transaction for Mylan as it builds on our strong momentum, expands and further diversifies our business in our largest markets outside of the U.S.,” Robert J. Coury, the Mylan executive chairman, said in a statement.

This article has been extracted from http://dealbook.nytimes.com, please click on this link to read the article in full http://dealbook.nytimes.com/2014/07/14/mylan-to-buy-generics-drugs-business-outside-u-s-from-abbott-for-5-3-billion/

Montash is a multi-award winning, global IT recruitment firm. Specialising in permanent and contract positions across mid-senior appointments which cover a wide range of industry sectors and IT functions, including:

ERP, BI & Data, Information Security, IT Architecture & Strategy, Scientific Technologies, Demand IT and Business Engagement, Digital and E-commerce, Infrastructure and Service Delivery, Project and Programme Delivery.

With offices based in London, Montash has completed assignments in over 30 countries and has appointed technical professionals from board level to senior and mid-management in permanent and contract roles.

comments powered by Disqus

Social Stream

Latest News

W1siziisijiwmtcvmdevmtcvmtavmzcvmzevmjq2l0nsb3vkighlywx0agnhcmuuanbnil0swyjwiiwidgh1bwiilcizodb4mtawiyjdxq

Cloud computing making its mark in healthcare

2017-01-17 10:00:00 +0000

The cloud computing sector has grown quickly, and businesses in various sectors have been quick to take advantage of its many benefits to improve services. One such market is the healthcare industry, which has been able to improve diagnosing and enhance treatment methodologies as a result of new technologies over the past decade. Cloud technology is helping one area in particular – the healthcare of people living in remote locations who would not ordina...

W1siziisijiwmtcvmdevmtyvmdkvntivmdgvotu5l0nhcmvlci5qcgcixsxbinailcj0ahvtyiisijm4mhgxmdajil1d

What are your career resolutions for 2017?

2017-01-16 09:00:00 +0000

The new year is traditionally a time to make resolutions for personal growth, but how about for your career? Setting goals is important because they provide a map for your career, helping you to organise your time, effort and resources on getting where you want to be. On a broader scale, having obtainable objectives can increase your job satisfaction, boost your self-esteem and improve your overall wellbeing. So, let’s take a look at the resolutions tha...