Amid increasing media speculation about a potential marriage between generic drugmakers Teva and Mylan, the latter has taken the rather unusual step of declaring that it has not received any such offer, nor does it believe the match would be a good fit.
The Wall Street Journal reported last week that Teva is mulling over a takeover bid for Mylan, although, citing people close to the matter, it said a decision on whether to make an offer has not yet been reached.
But in a clear show of opposition such a move, Mylan’s chairman Robert Coury said his firm has studied the potential merger for some time, “and we believe it is clear that such a combination is without sound industrial logic or cultural fit”.
“Further, there would be significant overlap in the companies' businesses and we believe that it is unlikely that any such combination could obtain anti-trust regulatory clearances,” he noted.
Mylan also said it remains committed to its $28-billion-bid for Dublin, Ireland-based Perrigo, which, it claims, “makes compelling strategic sense”.