Mylan Completes Acquisition of Certain Businesses from Famy Care to Create a Leading Women's Healthcare Franchise
HERTFORDSHIRE, England, BANGALORE, India and PITTSBURGH, Nov. 20, 2015 /PRNewswire/ -- Mylan N.V. (NASDAQ, TASE: MYL) today announced that its subsidiary, Mylan Laboratories Limited, has successfully completed the acquisition of certain women's healthcare businesses, now known as Jai Pharma, which were spun off from Famy Care Limited. The transaction brings Mylan a broad women's care portfolio, strong technical capabilities and dedicated hormone manufacturing, which, when combined with Mylan's expansive global commercial footprint and supply chain infrastructure, will create a leading women's healthcare franchise.
Mylan CEO Heather Bresch commented, "The completion of this transaction is an important milestone as we continue to grow our global women's healthcare franchise, and take another step in our mission to provide the world's 7 billion people access to high quality medicine. In addition to strengthening our women's healthcare offering in North America, we will continue to leverage our powerful commercial platform in Europe, now enhanced through our recent Abbott deal, to serve this important therapeutic area.
"Moreover, we look forward to building upon our existing commercial presence in emerging markets by leveraging our global supply chain and operational excellence to further accelerate our growth. This will include building upon our existing women's care portfolio in India and expanding our reach in support of Family Planning 2020, a global partnership that aims to enable 120 million more women and girls to use contraceptives by 2020.
"We also are excited to welcome nearly 1,000 dedicated employees to our family and look forward to their contributions as we strive to create better health for a better world, one person at a time."
The acquisition is expected to be immediately accretive to Mylan's adjusted diluted earnings per share and Mylan's financial leverage is not materially altered as a result of this transaction.
This press release contains "forward-looking statements." These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may include, without limitation, statements about the benefits and synergies of Mylan's acquisition of Jai Pharma (the "Jai Pharma Transaction"); that the Jai Pharma Transaction brings Mylan a broad women's care portfolio, strong technical capabilities and dedicated hormone manufacturing, which, when combined with Mylan's expansive global commercial footprint and supply chain infrastructure, will create a leading women's healthcare franchise; that in addition to strengthening Mylan's women's healthcare offering in North America, Mylan will leverage its powerful commercial platform in Europe, now enhanced through its recent Abbott deal, to serve this important therapeutic area; that Mylan looks forward to building upon its existing commercial presence in emerging markets by leveraging its global supply chain and operational excellence to further accelerate its growth, including building upon the existing women's care portfolio in India and expanding its reach in support of Family Planning 2020; that the Jai Pharma Transaction is expected to be immediately accretive to Mylan's adjusted diluted earnings per share; and any other statements regarding Mylan's and Jai Pharma's future operations, anticipated business levels, future earnings, planned activities, anticipated growth, market opportunities, strategies, competition, and other expectations and targets for future periods. These may often be identified by the use of words such as "will", "may", "could", "should", "would", "project", "believe", "anticipate", "expect", "plan", "estimate", "forecast", "potential", "intend", "continue", "target" and variations of these words or comparable words. Because forward-looking statements inherently involve risks and uncertainties, actual future results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: the ability to meet expectations regarding the accounting and tax treatments of the Jai Pharma Transaction; the integration of Jai Pharma being more difficult, time-consuming, or costly than expected; operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers, clients, or suppliers) being greater than expected following the Jai Pharma Transaction; the retention of certain key employees of Jai Pharma being difficult; the possibility that Mylan may be unable to achieve expected synergies and operating efficiencies in connection with the Jai Pharma Transaction within the expected time frames or at all and to successfully integrate Jai Pharma; expected or targeted future financial and operating performance and results; the capacity to bring new products to market, including but not limited to where Mylan uses its business judgment and decides to manufacture, market, and/or sell products, directly or through third parties, notwithstanding the fact that allegations of patent infringement(s) have not been finally resolved by the courts (i.e., an "at-risk launch"); the scope, timing, and outcome of any ongoing legal proceedings and the impact of any such proceedings on financial condition, results of operations and/or cash flows; the ability to protect intellectual property and preserve intellectual property rights; the effect of any changes in customer and supplier relationships and customer purchasing patterns; the ability to attract and retain key personnel; changes in third-party relationships; the impacts of competition; changes in the economic and financial conditions of the business of Jai Pharma; the inherent challenges, risks, and costs in identifying, acquiring and integrating complementary or strategic acquisitions of other companies, products or assets and in achieving anticipated synergies; uncertainties and matters beyond the control of management; inherent uncertainties involved in the estimates and judgments used in the preparation of financial statements, and the providing of estimates of financial measures, in accordance with accounting principles generally accepted in the United States of America and related standards or on an adjusted basis; and the risks detailed in Mylan's filings with the Securities and Exchange Commission. You can access Mylan's filings with the SEC through the SEC website at www.sec.gov, and Mylan strongly encourages you to do so. Mylan undertakes no obligation to update any statements herein for revisions or changes after the date of this press release.
About Mylan
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 more than 1,400 generic and branded pharmaceuticals, including antiretroviral therapies on which nearly 50% of people being treated for HIV/AIDS in the developing world depend. We market our products in approximately 165 countries and territories. Our global R&D and manufacturing platform includes more than 50 facilities, and we are one of the world's largest producers of active pharmaceutical ingredients. Every member of our more than 30,000-strong workforce is dedicated to creating better health for a better world, one person at a time. Learn more at mylan.com.
SOURCE Mylan N.V.
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