HERTFORDSHIRE, England,
Aug. 8, 2018 /PRNewswire/ -- Global
pharmaceutical company Mylan N.V.'s (NASDAQ: MYL) board of
directors today released the following statement:
Over the past decade, Mylan's Board of Directors and management
team have turned Mylan into a leading global platform with a
highly-diversified portfolio of products across broad therapeutic
areas and geographies. Our long-term strategy and management's
continued execution have consistently served the best interests of
all of our stakeholders.
Our international business, in which we expect continued growth,
now represents more than 60% of the company's global sales. These
global growth expectations are in contrast to the negative trends
and dynamics playing out in the US market place - which we believe
are unsustainable for the healthcare system over the long-term but
which we believe Mylan is uniquely well positioned to successfully
weather and navigate.
Our confidence in the future is bolstered by the fact that the
company continues to generate significant, global durable cash
flows, enabling us to continue investing in new initiatives for
further long-term growth and building on our unique global
platform. Over the last several years, the combination of our
internal initiatives, outstanding execution and external M&A
strategy have completely diversified and changed the profile of our
company by shifting the core from a US-centric operation to a
sustainable global presence.
With this said, we believe that the US public markets continue
to underappreciate and undervalue the durability, differentiation
and strengths of Mylan's global diversified business, especially
when compared to our peers around the globe. Therefore, while we
will continue to execute on our best-in-class, long-term focused
sustainable strategy, the Board has formed a strategic review
committee and is actively evaluating a wide range of alternatives
to unlock the true value of our one-of-a-kind platform. The Board
has not set a timetable for its evaluation of alternatives and
there can be no assurance that any alternative will be
implemented.
This press release contains "forward-looking statements." Such
forward-looking statements include, without limitation, the
statements that we expect continued growth in our international
business, that "Mylan is uniquely well positioned to successfully
weather and navigate" the negative trends and dynamics in the US
market place, that "Our confidence in the future is bolstered by
the fact that the company continues to generate significant, global
durable cash flows, enabling us to continue investing in new
initiatives for further long-term growth and building on our unique
global platform," and that "we will continue to execute on our
best-in-class, long-term focused sustainable strategy." These
forward-looking statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995
and 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:
actions and decisions of healthcare and pharmaceutical regulators;
failure to achieve expected or targeted future financial and
operating performance and results; uncertainties regarding future
demand, pricing and reimbursement for our products; any regulatory,
legal, or other impediments to Mylan's ability to bring new
products to market; success of clinical trials and Mylan's ability
to execute on new product opportunities; any changes in or
difficulties with our manufacturing facilities, supply chain or
inventory or our ability to meet anticipated demand; the scope,
timing, and outcome of any ongoing legal proceedings, including
government investigations; changes in relevant tax and other laws,
including but not limited to changes in the U.S. tax code and
healthcare and pharmaceutical laws and regulations in the U.S. and
abroad; any significant breach of data security or data privacy or
disruptions to our information technology systems; the ability to
protect intellectual property and preserve intellectual property
rights; the effect of any changes in customer and supplier
relationships and customer purchasing patterns; the ability to
attract and retain key personnel; the impact of competition;
identifying, acquiring, and integrating complementary or strategic
acquisitions of other companies, products, or assets being more
difficult, time-consuming or costly than anticipated; the
possibility that Mylan may be unable to achieve expected synergies
and operating efficiencies in connection with strategic
acquisitions or restructuring programs within the expected
time-frames or at all; and other uncertainties and matters beyond
the control of management, including but not limited to general
political and economic conditions and global exchange rates.
For more detailed information on the risks and uncertainties
associated with Mylan's business activities, see the risks
described in Mylan's Annual Report on Form 10-K for the year ended
December 31, 2018 and our other filings with the Securities
and Exchange Commission ("SEC"). You can access Mylan's filings
with the SEC through the SEC website at www.sec.gov, and Mylan
strongly encourages you to do so. Mylan routinely posts information
that may be important to investors on our website at
investor.mylan.com, and we use this website address as a means of
disclosing material information to the public in a broad,
non-exclusionary manner for purposes of the SEC's Regulation Fair
Disclosure (Reg FD).
About Mylan
Mylan is a global pharmaceutical company
committed to setting new standards in healthcare. Working together
around the world to provide 7 billion people access to high quality
medicine, we innovate to satisfy unmet needs; make reliability and
service excellence a habit; do what's right, not what's easy; and
impact the future through passionate global leadership. We offer a
growing portfolio of more than 7,500 marketed products around the
world, including antiretroviral therapies on which more than 40% of
people being treated for HIV/AIDS globally depend. We market our
products in more than 165 countries and territories. We are one of
the world's largest producers of active pharmaceutical ingredients.
Every member of our approximately 35,000-strong workforce is
dedicated to creating better health for a better world, one person
at a time. Learn more at Mylan.com. We routinely post information
that may be important to investors on our website at
investor.mylan.com.
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SOURCE Mylan N.V.