HERTFORDSHIRE, England and
PITTSBURGH, Nov. 10, 2017 /PRNewswire/ -- Mylan N.V.
(NASDAQ, TASE: MYL) today announced that it is voluntarily
delisting the company's ordinary shares from trading on the Tel
Aviv Stock Exchange (TASE). Under Israeli law, the delisting of
Mylan's ordinary shares from the TASE will become effective in
three months, on Feb. 12, 2018.
When Mylan first listed its shares on the TASE in November 2015, in connection with its attempt to
acquire Perrigo, it committed to maintaining the listing for at
least one year. Mylan has been listed on the TASE for more than two
years.
Mylan's Chairman of the Board Robert J. Coury noted: "Over the
last two years, we have learned that many of our Israeli
institutional shareholders actually hold their shares in Mylan on
the NASDAQ. Further, Mylan's holding on the TASE represents less
than 3.5% of our total shareholdings and the average trading volume
on the TASE is less than 3.5% of our global trading volume. Given
these factors and the fact that the TASE's trading hours and days
are different from other markets, our board of directors decided at
this time that it would not be in Mylan's best interests to
continue our listing on the TASE. That said, we do appreciate the
ties we have forged with the Israeli institutional market."
Coury continued, "More importantly, over the last two years, I
have had the privilege of becoming acquainted with the dynamic
Israeli business environment and the strong work ethic of its
people. As a result, we remain committed to considering future
investments and other business development opportunities in
Israel."
Mylan's shares will continue to be listed on the NASDAQ, and all
of its ordinary shares now traded on the TASE may be transferred to
the NASDAQ.
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 more than 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.