Heard the Teva-Mylan takeover rumors? Forget them, one analyst says.
A problem with a supplier in India has led Mylan to voluntarily recall a cancer drug in Canada. The maker of generic drugs has recalled one lot of methotrexate injection after the discovery of particulate in a unit.
Rumors have been floating around for months that pickup-hungry Teva may be looking to buy generics competitor Mylan. Some analysts have dismissed the idea, pointing to reasons a buyout wouldn't work. But with the deal talk persisting, at least one analyst says the underlying logic for a tie-up is sound--as long as it doesn't happen right away.
It's been less than a week since Mylan completed its deal with Abbott, scooping up a large chunk of the Illinois company's overseas generics business. But CEO Heather Bresch is already hinting at another big transaction.
Gilead has named Mylan as the exclusive distributor of branded forms of its hepatitis C blockbusters Sovaldi and Harvoni in India.
At least 5 India drugmakers are reported to be interested in the 7 drugs Sun Pharmaceuticals has to sell before it can close its yearlong acquisition of Ranbaxy Laboratories.
Good news for Teva when it comes to Mylan's generic version of AstraZeneca's Nexium: It won't be around for a little while.
The FDA and Mylan have issued a reminder of the company's ongoing voluntary recalls for antibiotic and antiseizure drugs manufactured by Mylan's UDL Laboratories.
Generics giant Mylan is shouldering its way into the blockbuster market for COPD treatments, signing a $265 million deal with the respiratory experts at Theravance Biopharma to get its hands on a late-stage contender.
Novartis' generic division, Sandoz, is having to recall one lot of its generic version of Novartis' blood pressure drug Atacand, but it is a copy that it does not manufacture itself. The drug is made in India by Mylan.