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Forbes: Teva Pharmaceuticals Hopes $40 Billion Mylan Deal Will Fuel Stock Rebound

Published on Apr 21 2015 // Business and Financial News, Market

APR 21, 2015 @ 10:19 AM – In the red hot market for pharmaceutical deal-making it’s either eat or be eaten. That’s the case with Teva Pharmaceutical’s $82 a share cash and stock bid for generic competitor Mylan, a direct challenge to Mylan’s near $30 billion takeover bid for Perrigo, unveiled on April 8.

The question now is whether Mylan’s board of directors and its stockholders will cast their lot with Teva Pharmaceuticals, a company that’s seen its stock dramatically underperform the S&P 500 Index over the past five years, or whether they will continue to support a management team led by CEO Heather Bresch that’s driven a near 250% share price increase since the beginning of 2012, outperforming the S&P’s 66% return.

The M&A battle also underscores that the sweepstakes for mid-tier drugmakers have never been higher…Read More>>

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