PITTSBURGH, June 2 /PRNewswire-FirstCall/ -- Mylan Inc. (NYSE: MYL) today
announced that it has acquired Merck KGaA's Central & Eastern Europe (CEE)
generics businesses, which include operations in Poland, Hungary, Slovakia,
Slovenia and the Czech Republic. As announced previously, Mylan exercised its
option to acquire these businesses as part of the original, October 2007
agreement in which Mylan acquired Merck KGaA's generics business (Merck
Generics) in Western Europe, Asia-Pacific, Africa and North America.
The acquisition does not require any additional consideration from Mylan
to Merck KGaA, Mylan said.
"Our acquisition of the CEE businesses gives us access to an additional
area with significant growth opportunities for generics," said Mylan Vice
Chairman and CEO Robert J. Coury. "It reflects our global strategy to leverage
existing platforms, rather than create start-up organizations. In that
respect, we believe the CEE businesses will benefit significantly from Mylan's
scale, vertical and horizontal integration, and robust product portfolio."
"My team and I are excited to have back the CEE businesses, which I helped
establish when I was a part of the Merck Generics organization," said Didier
Barret, president of Mylan Europe, Middle East and Africa. "We're eager to
continue to build upon our pan-European presence and execute the growth
strategies we've always had in mind for this region."
Mylan Inc., with a presence in more than 90 countries, ranks among the
leading diversified generic and specialty pharmaceutical companies in the
world. The company maintains one of the industry's broadest -- and highest
quality -- product portfolios, supported by a robust product pipeline; owns a
controlling interest in the world's second largest active pharmaceutical
ingredient manufacturer; and operates a specialty business focused on
respiratory and allergy therapies.
This press release contains statements that constitute "forward-looking
statements", including with regard to Company's expected opportunities and
growth potential and the anticipated benefits to the CEE businesses from
Mylan's integrated platform. These statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995.
Because such statements inherently involve risks and uncertainties, actual
future results may differ materially from those expressed or implied by such
forward-looking statements. Factors that could cause or contribute to such
differences include, but are not limited to: challenges and costs relating to
integration of the businesses; the effect of any changes in customer and
supplier relationships and customer purchasing patterns; general market
perception of the transaction; the ability to attract and retain key
personnel; changes in economic and financial conditions of the Company's
business; uncertainties and matters beyond the control of management; and the
other risks detailed in the Form 10-Q for the quarter ended March 31, 2008,
and the other reports filed by the Company with the Securities and Exchange
Commission. The Company undertakes no obligation to update these statements
for revisions or changes after the date of this release.
SOURCE Mylan Inc.