Prof­its sink­ing, My­lan looks to strate­gic al­ter­na­tives; No­vo posts de­press­ing Q2

→ It seems My­lan $MYL can’t catch a break. Fol­low­ing a CRL ear­li­er this sum­mer, the com­pa­ny re­port­ed out earn­ings Wednes­day morn­ing for Q2 that dis­ap­point­ed Wall Street. On top of that, My­lan put out a con­cern­ing state­ment to­day that it was eval­u­at­ing a “wide range of strate­gic al­ter­na­tives” be­cause it be­lieves the pub­lic mar­kets are un­der­valu­ing the com­pa­ny.

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.

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