Mylan N.V. today announced that it was asked by the Irish Takeover Panel to issue the following clarification and retraction in accordance with the Irish Takeover Rules (the "Rules").
May 25, 2015
/PRNewswire/ -- Mylan N.V. (NASDAQ: MYL) today announced that it was asked by the Irish Takeover Panel to issue the following clarification and retraction in accordance with the Irish Takeover Rules (the "Rules"), relating to its firm intention to make an offer to acquire the issued and to be issued shares of Perrigo (NYSE: PRGO; TASE). The clarification and retraction relates to certain forward-looking statements made by Mylan specifically during The Pendency Of The Offer Period ("the offer period") concerning its long-stated target since 2012 of at least
in adjusted diluted earnings per share ("EPS") by 2018, including recently in Mylan's first quarter earnings press release of
Subsequent to the
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 Rules, and therefore must comply with the terms of the 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 Rules.
Mylan fully intends to continue to comply with all requirements of the 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.
Mylan is a global pharmaceutical company committed to setting new standards in healthcare. Working together around the world to provide 7 billion people access to high quality medicine, we innovate to satisfy unmet needs; make reliability and service excellence a habit; do what's right, not what's easy; and impact the future through passionate global leadership. We offer a growing portfolio of around 1,400 generic pharmaceuticals and several brand medications. In addition, we offer a wide range of antiretroviral therapies, upon which approximately 40% of HIV/AIDS patients in developing countries depend. We also operate one of the largest active pharmaceutical ingredient manufacturers and currently market products in about 145 countries and territories. Our workforce of approximately 30,000 people is dedicated to creating better health for a better world, one person at a time. Learn more at mylan.com.
The directors of Mylan N.V. ("Mylan") accept responsibility for the information contained in this communication. To the best of the knowledge and belief of the directors (who have taken all reasonable care to ensure that such is the case) the information contained in this communication is in accordance with the facts and does not omit anything likely to affect the import of such information.