PITTSBURGH, Nov. 1 /PRNewswire-FirstCall/ -- Mylan Inc. announced that it is launching an offering of approximately $1.4 billion (1.4 million shares) of mandatory convertible preferred stock (“preferred stock”) and approximately 40 million shares of common stock pursuant to a shelf registration statement previously filed with the Securities and Exchange Commission. These offerings are separate public offerings by means of separate prospectus supplements and are not contingent on each other. Mylan expects to grant to the underwriters an option to purchase approximately 210,000 additional shares of preferred stock and approximately 6 million shares of common stock, in each case to cover overallotments.
Mylan stated that the purpose of the offerings is in accordance with its previously stated objectives. It will use the net proceeds of the offerings to prepay a portion of the interim loans that were borrowed to finance in part its acquisition of Merck KGaA’s generics business, which was completed on October 2, 2007, and related acquisition costs.
Merrill Lynch & Co. and Goldman, Sachs & Co. are acting as joint book- running lead managers for the preferred stock and common stock offerings. Merrill Lynch & Co. is acting as sole global coordinator for all financings for Mylan. Co-managers for the common stock offering are Citi, JPMorgan and Cowen and Company. Co-managers for the preferred stock offering are Citi, JPMorgan, Cowen and Company, Banc of America Securities LLC and Mitsubishi UFJ Securities.
Copies of the preliminary prospectuses related to the offerings may be obtained from Merrill Lynch & Co., 4 World Financial Center, New York, NY 10080, Attention: Prospectus Department or from Goldman, Sachs & Co., 85 Broad Street, New York, NY 10004, Attention: Prospectus Department.
This press release does not and shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any jurisdiction.
Mylan Inc. is one of the world’s leading quality generic and specialty pharmaceutical companies. The Company offers one of the industry’s broadest and highest quality product portfolios, a significant product pipeline and a global commercial footprint through operations in more than 90 countries. Through its controlling interest in Matrix Laboratories Limited, Mylan has direct access to one of the largest active pharmaceutical ingredient (API) manufacturers in the world. Dey L.P., Mylan’s fully integrated specialty business, provides the Company with innovative and diversified opportunities in the respiratory and allergy therapeutic areas.
This press release contains statements that constitute “forward-looking statements”, including with regard to the Company’s planned securities offerings. 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: the prevailing conditions in the public capital markets; significant fluctuations in interest rates or inflation; economic recession; economic, political and market factors affecting trading volumes, securities prices or demand for the Company’s stock; and the other risks detailed in the Company’s prospectus supplements and in periodic filings 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.
CONTACT: Kris King of Mylan Inc., +1-724-514-1831
Web site: http://www.mylan.com//
