Investors were unimpressed after Mylan said its independent directors were still not in a position to reveal the findings of a strategic review they have been undertaking in recent months. With first-quarter sales failing to meet analysts’ consensus forecasts, shares slid to their lowest level in the past five years, although Mylan’s share price has since rebounded slightly following media rumors that investment firm Carlyle Group is preparing a takeover bid.
Presenting the group’s fourth-quarter results at the end of February, Mylan’s CEO Heather Bresch had told investors she understood the strategic committee assessing a wide range of future options was “nearing completion” of the work it had started midway through last year