Updated on 10 April 2015
Last year, Mylan spent nearly $5.3 billion acquiring Abott's generic business
Singapore: Global generics and specialty pharmaceutical company Mylan, has proposed to buy Irish firm, Perrigo for $29 billion. The deal, if materializes, will create a company with unrivaled manufacturing and supply chain capabilities across OTCs, generics and APIs.
Mylan said in a press release that the merger of these highly complementary businesses would produce a company with critical mass in specialty brands, generics, over-the-counter (OTC) and nutritional products; a powerful commercial platform with reach across all customer channels; an exceptional high-quality operating platform; and opportunities to generate enhanced growth.
Mr Robert Coury, executive chairman, Mylan, commented, "This proposal is the culmination of a number of prior discussions between Mylan and Perrigo about the compelling strategic and financial logic of this combination. This merger would result in meaningful immediate and long-term value creation, and our proposal is designed to deliver that value to shareholders and other stakeholders of both companies."