US: Teva Pharmaceutical says its offer to buy Mylan is ‘strong and serious’

Teva Pharmaceutical Industries this morning responded to Mylan’s letter of last week, saying that contrary to doing little more than “meddling,” its offer to buy Mylan is “strong and serious.”

Teva’s more than $40 billion proposal “offers exceptional opportunity for Mylan’s and Teva’s stockholders and other stakeholders and deserves careful review and engagement by your board and your stockholders,” CEO Erez Vigodman wrote to Mylan executive chairman Robert Coury.

Generic drugmaker Mylan is run from Cecil, Washington County, but reincorporated in the Netherlands earlier this year.

In a letter to Mr. Vigodman last week, Mr. Coury accused Israel-based Teva of “playing games” with Mylan shareholders by pushing an “illusionary” buyout offer that has no chance of going through.

“There is nothing unclear or equivocal about Teva’s intentions,” Mr. Vigodman said in his letter this morning. “We have a clear roadmap to deliver on our proposal.”

Full content: US Securities and Exchange Commission

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