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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