PHARMACY

Teva offers $40 billion for Mylan

BY Michael Johnsen

JERUSALEM — Teva Pharmaceutical Industries on Tuesday announced a proposal to acquire all of the outstanding shares of Mylan in a transaction valued at $82 per Mylan share, or approximately $40 billion, with the consideration to be comprised of approximately 50% cash and 50% stock. 
 
According to Teva, their proposal provides Mylan stockholders with a more attractive alternative to Mylan’s proposed acquisition of Perrigo Company as announced on April 8, as well as to Mylan on a standalone basis. The Teva and Mylan product offerings are highly complementary, and together, would create the broadest portfolio in the industry, with a combined pipeline of over 400 pending abbreviated new drug applications and over 80 first-to-files in the United States. The combined Teva and Mylan would have pro forma 2014 revenues of approximately $30 billion and pro forma 2014 EBITDA of approximately $9 billion.
 
Teva’s proposal would provide Mylan stockholders with consideration representing a 37.7% premium to the stock price of Mylan on April 7, 2015, which is the last day of trading prior to Mylan’s press release regarding its unsolicited proposal for Perrigo, and a 48.3% premium to the unaffected stock price of Mylan on March 10, 2015, which is the last day of trading prior to widespread speculation of a transaction between Teva and Mylan.
 
The proposed combination of Teva and Mylan would create a leading company in the pharmaceutical industry, well positioned to transform the global generics space, the company stated. “Our proposal is compelling for both Teva and Mylan stockholders and other stakeholders,” said Erez Vigodman, president and CEO of Teva. “Our proposal would provide Teva stockholders with very attractive strategic and financial benefits and Mylan stockholders with a substantial premium and immediate value for their shares, as well as the opportunity to participate in the significant upside potential of the combined company – one that would transform the global generics space and leverage it to hold a unique leadership position in the pharmaceutical industry. We have long respected Mylan’s business, and we are confident that Mylan’s board of directors and stockholders will agree that our proposal represents a significantly more attractive alternative for Mylan and its stockholders than Mylan’s proposed acquisition of Perrigo,” he said. “We are very satisfied with the progress Teva has made over the last year, solidifying the foundation of our company, protecting its main specialty franchises and building our engines for organic growth. We have deep conviction in the future of Teva, building on our people, pipeline and capabilities in generics and specialty. The combination of Teva and Mylan is a truly unique opportunity to build upon both companies' solid foundations. Bringing the two together will create a much stronger, more efficient platform to achieve our goals. As one company, we would have the infrastructure and capabilities to faster pursue a differentiated business model, fully integrating specialty and generics drugs with products, devices, services and technologies to meet the evolving needs of patients and customers.”
 
“The proposal to acquire Mylan was unanimously approved and strongly supported by the Teva board," added Yitzhak Peterburg, Teva chairman. "Teva’s strategy has been to aggressively pursue growth opportunities that advance our goal of being a stronger, more diversified organization with the scale and resources to drive value across our business. Our proposed combination advances these objectives and would result in significant and sustained value creation for Teva stockholders.”
 
This proposal is subject to customary conditions. The transaction would not be subject to a financing condition or require a Teva stockholder vote. Teva’s proposal is contingent on Mylan not completing its proposed acquisition of Perrigo or any alternative transactions.
 
Teva has carefully studied the regulatory aspects of a combination of Teva and Mylan, in conjunction with its advisors. Teva is confident that it would be able to structure a transaction that would not contain material impediments to closing and that it can determine and promptly implement divestitures, as necessary, to gain regulatory clearances.
 
Teva expects that the proposed transaction can be completed by year-end 2015. Teva notes that there can be no assurance that a transaction between Teva and Mylan will be consummated.
 
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J.KRANIS says:
Apr-21-2015 10:14 am

This would benefit Teva more so than Mylan. Mylan is one of the very few in the US that have and continue to be a great generic manufacturing company. When a patient has a Mylan product, they can be secure that is just as good as the brand. I think Mylan should definitely stand on their own.. to me they have always been a huge competitor in the marketplace... While Actavis is buying every generic firm, Teva is trying to as well, as of course these others may not be able to compete due to market share, pricing etc. If Mylan was smart, they would decline any buyout offer and realize they are one of the few (besides Greenstone), that have a huge presence in the US for manufacturing generics and market share. If I were a wholesale distributor, I would want to carry a Mylan product before any other generic manufacturer. The pharmacist and the general public feel very secure with Mylan. While FDA is investigating Indian generic firms, Mylan stands tall.

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PHARMACY

NACDS’ point-of-care testing tour gets underway

BY Antoinette Alexander

ARLINGTON, Va. — The National Association of Chain Drug Stores Community Pharmacy-Based Point-of-Care Testing certificate program kicked off this weekend at the University of Nebraska Medical Center College of Pharmacy in Omaha, Neb. This marks the first stop on a national multi-city tour that will continue at colleges and schools of pharmacy during 2015.

Last month, NACDS announced the acquisition and expansion of a certificate program designed to provide training for pharmacists to administer point-of-care testing and other health assessments in pharmacies.

The two-day training program at UNMC filled the training facility at capacity. Day one focused on completion of the certificate program, and on day two participants completed a “train-the-trainer” program to learn how to teach the certificate program to other pharmacists.

“The University of Nebraska Medical Center College of Pharmacy is a great launching point for this exciting program,” stated NACDS president and CEO Steve Anderson. “More and more patients are looking to their pharmacists for new services that help maintain their health and wellness. One of the great things about this NACDS certificate program is that it demonstrates the extensive education and training of pharmacists, and that it will create even greater access to services that can help improve patient health.”  

“We’re honored to have the tour start at UNMC in Omaha. It’s hard to believe how far this training has come from its inception to a national-level certificate program driven by NACDS’ leadership. This is a very exciting time for the pharmacy profession,” state Don Klepser, Department of Pharmacy Practice, University of Nebraska Medical Center College of Pharmacy.

Point-of-care testing empowers clinicians to use effective, fast technology to aid their decision making at the “point-of-care” to improve patient health.  Pharmacy-based point-of-care testing is done as part of care coordination.  

Designed for community pharmacy, academia and pharmacy association staff, the Community Pharmacy-Based Point-of-Care Testing certificate program will train participants to administer a variety of point-of-care tests, as well as health and physical assessments. Specifically, the accredited certificate program includes 20 hours of Continuing Pharmacy Education credit, for those who complete course requirements and assessments, including 12 hours of home study and eight hours of live training about disease states, physical assessments, point-of-care tests, collaborative practice models and business models.  

The extensive education and training of pharmacists qualifies them to provide a host of services, including point-of-care testing. The NACDS point-of-care testing certificate program, developed by faculty at UNMC and Ferris State University will further complement their robust pharmacy education.  

Accoring to NACDS, registration for the national multi-city tour certificate programs is currently open. Space is now limited, so those interested in participating should complete the survey to begin the application process as soon as possible.

With support from Quidel, a manufacturer of diagnostic healthcare solutions that can lead to improved patient outcomes, the registration fee for participants of the two-day training programs during the national tour — including the program at UNMC — will be waived.  
 

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Diplomat Pharmacy opens intern/fellowship programs

BY Michael Johnsen

FLINT, Mich. – Diplomat Pharmacy is seeking students for summer internship and fellowship programs for the summer of 2015, the specialty retailer announced Friday.
 
“We hope to attract and inspire students from throughout the country who are looking for an engaging summer experience that will extend beyond the typical office environment,” stated Phil Hagerman, Diplomat CEO and chairman. “We have a multitude of compelling workshops and activities in which students take part, with the intention to spark a broader platform from which these young and talented minds can leap as they seek a career.”
 
The programs bring together students for a summer immersion program designed to help interns and fellows gain professional experience offered through hands-on experience, community introductions, alumni connections and group housing for the fellows.
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