last week mylan n.v. and mylan inc. reported that mylan has completed the acquisition of abbott laboratories&39 nonu.s. developed markets specialty and branded generics business.in a news release issued last week, executive chairman robert j. coury stated "today marks the beginning of the next exciting chapter of growth for mylan. with the completion of this transaction, we will benefit from significantly enhanced financial flexibility, an optimized global tax structure and greater balance sheet capacity, all of which position us exceptionally well for future opportunities."abbott received 110 million shares of mylan n.v., resulting in former mylan inc. shareholders now owning approximately 78 of mylan n.v. and abbott now owning approximately 22 of mylan n.v., it was reported. mylan inc. and abbott&39s nonu.s. developed markets specialty and branded generics business have been reorganized under mylan n.v., a new public company organized in the netherlands. mylan n.v. will be led by the former mylan inc. executive team. the company will trade on nasdaq under the ticker symbol myl."this transaction significantly enhances our ability to pursue additional highly strategic and financially accretive opportunities," stated mylan ceo heather bresch. "these new assets will build upon our exceptional existing global platform and the strong growth strategy already in place, and better position our company to deliver on our mission of providing the world&39s seven billion people access to high quality medicine. not only will this transaction strengthen our financial profile, it will significantly enhance our geographic footprint and commercial platform in our largest nonu.s. geographies and create critical mass across our customer sales channels."today, we also welcome approximately 3,800 employees from abbott to mylan, and we look forward to the contributions they will make to our combined organization as they take up our cause of delivering better health for a better world." image source httpphotos.prnewswire.com
