Mylan will not make profit forecasts while considering Perrigo acquisition
HERTFORDSHIRE, England – Mylan on Monday announced that it was asked by the Irish Takeover Panel to issue a clarification and retraction in accordance with the Irish Takeover Rules, relating to its firm intention to make an offer to acquire Perrigo.
The clarification and retraction relates to certain forward-looking statements made by Mylan specifically during the "offer period" concerning its long-stated target since 2012 of at least $6 in adjusted diluted earnings per share by 2018, included recently in Mylan's first quarter earnings press release of May 5, 2015.
Subsequent to the May 5 earnings release, Perrigo submitted a complaint to the Irish Takeover Panel alleging that the reference to Mylan's long-term target should be treated as a forward-looking profit forecast statement for purposes of the Takeover Rules, and therefore must comply with the terms of the Takeover Rules.
"Although Mylan's longstanding adjusted diluted EPS goal has been a well stated long-term target, and not a forecast of Mylan, at least during the offer period as it pertains to the Perrigo transaction, Mylan will no longer refer to that 2018 target or any other forward looking statements beyond 2015 that could constitute profit forecasts under the [Takeover] Rules," Mylan stated. "Mylan fully intends to continue to comply with all requirements of the Takeover Rules and asks that investors be mindful of these rules and therefore patient and respectful of these requirements during the pendency of the offer period."
NPA’s Fabricant derails HBO exposé on supplements
WASHINGTON – In response to an HBO expose on sports nutrition supplements sold on military bases, the Natural Products Association's CEO and executive director Daniel Fabricant, former director of the Dietary Supplements Division at the Food and Drug Administration, published a rebuttal on HBO’s Real Sports segment that attempted to link “Orrin Hatch’s dietary supplement legislation to military fatalities.”
The op-ed was published in the Salt Lake Tribune on Friday.
"Here we go again. 'HBO Real Sports with Bryant Gumbel' is the latest to jump on the bandwagon with those falsely claiming that dietary supplements are unregulated," Fabricant opened. "It may make for sensational media coverage posing as investigative reporting, but it is far from being accurate."
Fabricant argued that not only are supplements regulated, the enforcement of those regulations have pulled illegal products off of the market and landed their proprietors in jail. "John Edward Mullikin, who was falsely promoting a weight loss product, is now serving time in a federal prison after being sentenced in June, 2013," he said, citing an example of how FDA enforced the law during his tenure.
Fabricant also took exception with HBO's report that the supplement industry lobbied to water down regulations through its support of Sen. Orrin Hatch, R-Utah.
"All of the critics who conveniently ignore the past 20 years of federal oversight of this industry are also ignoring the fact that former President Bill Clinton, Sens. Edward Kennedy, D-Mass., and Tom Harkin, D-Iowa, and Congressman John Dingell, D-Mich. — what many would consider a pantheon of consumer safety advocates — supported the law," Fabricant added. "I guess these Democrat Hall-of-Famers are just pawns of the dietary supplement industry, too."
Soccer star Tobin Heath endorses new sports nutrition brand
PHOENIX – The Glukos Company, a natural performance energy foods brand officially launching in May, on Tuesday announced the signing of United States midfielder Tobin Heath. Heath, a two-time Olympic gold medalist, three-time NCAA champion, World Cup silver medalist and one of the starting players on the U.S. national team, signed a deal to become the face of the Glukos brand in soccer.
"Being a two-way player that's consistently transitioning from offense to defense, it's imperative I fuel my body with an all-natural source of performance energy like Glukos that keeps my energy levels high," said Heath. "Since it's absorbed directly into my bloodstream and doesn't give me the jittery feeling associated with other products on the market, I'm able to perform at my peak throughout a 90-minute match."
Glukos founder Mark Jensen, a former collegiate runner and Ironman competitor, realized there was a gap in the energy product market. This led him to extensive research and development to find the optimum source of energy that was both healthy and effective for athletes. Glukos will be available sports specialty retail stores across the country for athletes that want to perform at their optimum levels while competing.
"With Tobin's prominence in soccer and the biggest women's tournament coming up this summer, she was an obvious choice to partner with heading into our launch," said Jensen. "As we embark on a new era, it's a thrilling time for Glukos and we're excited to welcome one of the best women's soccer players in the world to our team."
Glukos is available in six different products, including a ready to drink, gel, powder, tablet, gummy and bar. According to the company, the ingredient glucose is the only fuel the human body can use to produce natural energy unlike other energy products that contain high fructose corn syrup, which actually creates lactic acid, and triglycerides in the muscles that hurt performance and recovery, caffeine which artificially increases the heart rate and causes dehydration, and artificial sweetener.
Loading Post Please Wait...