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Drug Stocks Plunge Was `Necessary' Bloodletting, Mylan CEO Says
- Investors will refocus on `too-good-to-be-true' stocks: Bresch
- CEO remains fully committed to pending acquisition of Meda
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Mylan NV’s chief executive officer says that the drug industry’s pain over the last few months will eventually be her company’s gain.
“The rebasing of our sector was not only necessary but helped draw distinction and differentiation amongst our peers,” CEO Heather Bresch said on a call with investors Tuesday after the company reported profit that beat analysts’ estimates. “For far too long, one brush has been used across our industry and business models, when in fact the business models have been very diverse.”