Mylan's Math Doesn't Work for Perrigo : Tara Lachapelle - (Bloomberg via NewsPoints Desk)

  • With the expiration of its tender offer for Perrigo now just a month away, Mylan has made another big push this week, reported Bloomberg.
  • The company held an hour-long conference call to again make its case for acquiring the $23-billion maker of over-the-counter (OTC) remedies.
  • Mylan also got permission to list shares on the Tel Aviv Stock Exchange, in hopes of winning support from Perrigo's large number of Israeli institutional shareholders.
  • Meanwhile, based on feedback from drugstores and suppliers, Perrigo claims $1 billion of revenue could be at risk should a change of control occur.
  • Mylan does not specialize in selling OTC products through retail chains, and so it could be problematic if it loses, or lays off, key Perrigo executives that are experts in this line of business, according to the news source.
  • Mylan CEO Heather Bresch declined to get into the details, but suggested that suppliers are going to want to keep supplying the company.

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