Mylan's shareholders think it is a dandy idea to continue to pursue a takeover of Perrigo. Two thirds of those who voted today favored pursuing the buyout of over-the-counter specialist despite the adamant opposition to the deal from Perrigo CEO Joseph Papa and his board.
Perrigo may be embroiled in a takeover fight with pursuer Mylan, but that hasn't stopped it from pursuing tie-ups of its own--even $1 billion-plus buys.
Friday, Mylan's shareholders will vote on whether the company should move ahead with its hostile bid for Perrigo. But Teva won't be among them, despite the fact that it built up a 4.61% Mylan stake when it was trying to buy the company earlier this year.
There are just three days left until Mylan's shareholders decide whether the company should push forward with its hostile pursuit of Perrigo. And just in case they do, Perrigo is making sure its own shareholders are ready to shoot it down.
Just days after the FDA hammered Mylan sterile injectable plants in India in a warning letter, the drugmaker has said it is expanding a recall of injected cancer meds it manufactures there for Pfizer.
Three of Mylan-run drug manufacturing operations in India have been cited in a U.S. FDA warning letter for quality violations that included a failure to set procedures aimed at preventing microbiological contamination and on the use of torn gloves..
The recent recall of 8 lots of injectable cancer drugs, some of which Mylan made for client Pfizer, was just a prelude to an FDA warning letter, it turns out. The agency today posted the letter, aimed at three plants in India that Mylan got in its deal for Agila Specialties two years ago.
Mylan's recent recall of injected cancer drugs, was a hint that all was not well at some of the plants Mylan got two years ago in its $1.75 billion deal for Indian sterile injectables producer Agila Specialties. But just how deep those problems are came to light today when the FDA posted a warning letter for three of those Indian facilities, including one that was cited shortly before Mylan bought it.
Parents whose children have potentially life-threatening allergies now have some new resources--thanks to Mylan and Disney, which have teamed up to launch MyAllergyKingdom.com.
Got children with potentially life-threatening allergies? Mylan--and Disney--want to help with that. The pair has teamed up to launch MyAllergyKingdom.com, a website that aims to help families avoid allergic triggers and prep them in case of anaphylaxis.