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Mylan To Explore Strategic Options, Claiming Investors Have Failed To Appreciate The Value

 
• By Jessica Merrill

CEO Heather Bresch gave a soliloquy on US health care during the second quarter call, saying ‘perverse incentives’ have created a system that ‘feeds on higher prices.’

Cropped image of man holding the world map in hands while standing near private plane in airport. Choosing the next destination.

Mylan NV's board of directors announced Aug. 8 that it is reviewing strategic alternatives for the company as the generic drug manufacturer's stock price has remained undervalued, and as the company said US pharmaceutical trends are unsustainable. The news coincided with disappointing second quarter financial results, with Mylan's North American sales down 22% under intense pressure.

The lower sales were largely due to a manufacturing setback at the company's plant in Morgantown, W.Va. manufacturing facility following an FDA Form 483 report in April, which cited the plant for 13 violations. Also see "The Quality Lowdown: Cleaning Issues At Mylan, Blank Release Forms At API Plant In China, And More" - Pink Sheet, 3 July, 2018

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