Corporate Updates

Abbott Affirms its Support for Mylan’s proposed acquisition of Perrigo

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abbott-laboratories-logoAbbott, a global healthcare company, has confirmed that it will continue support for Mylan N.V’s growth strategy by stating its intent to vote its 14.5 percent stake in Mylan in favor of Mylan’s proposed acquisition of Perrigo.

“We chose Mylan to acquire our developed markets branded generics pharmaceuticals because its scale and breadth across critical distribution channels, broad and diverse portfolio, and commitment to patients and product quality strongly positions it for success in the years to come,” said Miles D. White, chairman and chief executive officer, Abbott.

“As both Mylan’s largest shareholder and its partner through our continued manufacturing relationships, Abbott has considered the entire situation and we believe Mylan’s standalone strategy and acquisition of Perrigo will further enhance its platform, is strategically compelling, value enhancing for shareholders, and offers a clear path to completion. In light of these factors, we will be voting in favor of the Perrigo transaction,” White added.

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