Second one
is, the current Mylan board rules include a few items, which make it hard to get shareholder involvement, like allowing only board members to nominate new board members. Can you confirm to us that none of that will be part of the new companies?
And then, on the operations, Mylan had a policy of paying its executives the 75% of the industry. Is this
going to continue to be the policy?
And lastly, maybe for Ken, I noticed the projections for 2020, our
adjusted EBITDA, the $7.5 billion to $8 billion, is this adjustment solely for the merger or some of the traditional adjustments on the Mylan of the Mylan pro forma still carry on to NewCo?
A
Robert J. Coury
Chairman & Non-Executive
Director, Mylan, Inc. Mylan N.V.
Why dont I let Ken answer that last question first and then...
A
Kenneth Scott Parks
Chief Financial Officer,
Mylan NV Mylan N.V.
Sure, Ronny, and thank you for the comment. And thank you for the comment at the beginning
as well. Yes, the
2020 adjusted EBITDA does include the typical adjustments that we disclose and call out and
outline in our press release. So it is on the same basis as we have been reporting Mylan in the past.
A
Robert J. Coury
Chairman & Non-Executive Director, Mylan, Inc. Mylan N.V.
But you can rest assured, Ronny, when we get together with you, one of the things that Ive heard from analysts and from some even the buy side is about transparency.
You have my commitment that we will be meeting with you and other analysts and some of our buy side, some of our largest
shareholders to work together, to try to figure out, to make sure because if we dont show you and really get into the details about how to model our business, then youre going to be left on your own and this truly
this transformational transaction that really transforms Mylan as a company not our strategy, but Mylan as a
company, which Ill get the governance, when Im saying it is, we are going to sit with you and were going to come up with the right way to profile this very unique company thats really [ph] one (01:14:39).
And the other thing youre going to find, I believe, that our competitors are going to be more as a consumer, when
you take a look at our cash flow, when you take a look at the sustainable, when you take a look at the sustainable free cash flows that could be generated over the long haul, short, medium, long, youre going to find that our comparables are
going to be more like a consumer, more like a animal health, but the only difference between their models and ours is theirs is cash pay and ours is reimbursable.
So I dont think that theres going to be another youre not going to find a reimbursable model that has such a sustainable cash flows, and the only way I can compare
it now that weve created this profile is more of the consumer and animal health.
In terms of corporate
governance, so look, Ronny, I think all of our shareholders know one thing, I dont make up things. So if I tell you Im going to do something, its done. So let me just be clear, I would have never come back to the United States, if
we werent ready to turn this company back over to shareholders. If you ask me what the big, big this is like Alice in Wonderland from a governance structure of where we come from, Pennsylvania,