mylan nv (MYL) Key Developments
Mylan Wins GBP 230 Million Multiple Contract for Supplying Generic Pharmaceuticals
May 27 15
Mylan won a GBP 230 million multiple awardees contract award from The Secretary of State for Health acting as part of the Crown through the Commercial Medicines Unit for the supply of generic pharmaceuticals.
Mylan N.V. Presents at Bank of America Merrill Lynch 2015 Health Care Conference, May-13-2015 03:00 PM
May 12 15
Mylan N.V. Presents at Bank of America Merrill Lynch 2015 Health Care Conference, May-13-2015 03:00 PM. Venue: Encore at the Wynn, 3131 S Las Vegas Blvd, Las Vegas, Nevada, United States.
Mylan May Consider Buying Teva
May 11 15
Mylan N.V. (NasdaqGS:MYL) is not willing to sell itself to Teva Pharmaceutical Industries Limited (NYSE:TEVA), Mylan’s Executive Chairman, Robert Coury said. The official added that the company would consider buying that company down the road. The company has been steadfast in its refusal to combine with Teva and is instead encouraging shareholders to support its own $34 billion unsolicited offer for over-the-counter Perrigo Company Public Limited Company (NYSE:PRGO). Teva made an unsolicited $40 billion bid for Mylan in April 2015, and it was rejected. Teva said recently that it will move ahead with its plans to acquire Mylan if the Perrigo deal is not completed.
Mylan N.V. Enters into Amendment No. 1 to the Revolving Credit Agreement
May 7 15
On May 1, 2015, Mylan Inc. entered into Amendment No. 1 to the Revolving Credit Agreement dated as of December 19, 2014, among the Borower, Mylan N.V, certain lenders and issuing banks and Bank of America, N.A., as administrative agent. The Revolving Amendment provides that, following the closing of the company's offer for the entire issued and to be issued share capital of Perrigo Company plc, the financial covenant in the Revolving Credit Agreement will be modified as follows: (i) for the four fiscal quarters following the closing of the Perrigo Proposal, the company will be required to maintain a ratio of consolidated total indebtedness as of the end of any quarter to consolidated EBITDA for the trailing four quarters not to exceed 4.75 to 1.00, (ii) for each of the subsequent two fiscal quarters, the company will be required to maintain a Leverage Ratio not to exceed 4.25 to 1.00, and (iii) for any fiscal quarter thereafter, the company will be required to maintain a Leverage Ratio not to exceed 3.75 to 1.00. The Revolving Amendment also amends the event of default provisions to provide that any change of control or change of control put rights under any indebtedness of Perrigo or its subsidiaries that are triggered as a result of the closing of the Perrigo Proposal will not result in an event of default so long as the company or its subsidiaries refinances such indebtedness within 30 days of the closing of the Perrigo Proposal or makes any change of control offer required by the terms of such indebtedness and purchases all notes validly tendered pursuant thereto, respectively.
Mylan Unveils Levonorgestrel and Ethinyl Estradiol Tablets USP, 0.15 Mg/0.03 Mg in the US Market
May 6 15
Mylan NV announced the availability of Levonorgestrel and Ethinyl Estradiol Tablets USP, 0.15 mg/0.03 mg in the US oral contraceptive market with immediate effect. The company stated that Levonorgestrel and Ethinyl Estradiol Tablets USP, 0.15 mg/0.03 mg, is the generic version of Teva's Seasonale Tablets.