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September 16th, 2015 | Add a Comment

Teva offers nothing that Mylan can’t do on its own was intended as a diversion to Mylan’s bid for Irish pharmacy product company Perrigo Co. plc, Mylan Executive Chairman Robert Coury said in an interview with the Pittsburgh Business Times. Mylan (Nasdaq: MYL) is seeking to acquire Perrigo for $32.7 billion, but the Irish pharmacy product company has rejected the offer as undervalued. The 54 year old Coury discussed Mylan’s resolve to remain independent during an interview at the company’s Canonsburg offices. "Teva remains deeply committed to consummating a transaction with Mylan that offers an unparalleled opportunity for value creation and many other benefits for our respective stockholders, customers, patients and employees," a spokesperson said in a statement. "Mylan stockholders would also have the opportunity to participate in the significant upside potential of the combined company one that would be stronger, more competitive and hold a unique position in the industry." Mylan’s growth will come from innovation and new product development, not from cost cutting, which is the Wall Street appeal of a Mylan Teva tieup, Coury said. Teva’s offer for Mylan ignores the company’s responsibilities to its stakeholders, including the communities where it does business.

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