Abbott Affirms its Support for Mylan Standalone Strategy and Will Vote its Mylan Shares in Favor of Mylan's Proposed Acquisition of Perrigo

News provided by

Jun 16, 2015, 09:00 ET

ABBOTT PARK, Ill., June 16, 2015 /PRNewswire/ -- Abbott (NYSE: ABT) today confirmed its continued support for Mylan N.V's growth strategy by stating its intent to vote its 14.5 percent stake in Mylan in favor of Mylan's proposed acquisition of Perrigo.

"We chose Mylan to acquire our developed markets branded generics pharmaceuticals because its scale and breadth across critical distribution channels, broad and diverse portfolio, and commitment to patients and product quality strongly positions it for success in the years to come," said Miles D. White, chairman and chief executive officer, Abbott. "As both Mylan's largest shareholder and its partner through our continued manufacturing relationships, Abbott has considered the entire situation and we believe Mylan's standalone strategy and acquisition of Perrigo will further enhance its platform, is strategically compelling, value enhancing for shareholders, and offers a clear path to completion. In light of these factors, we will be voting in favor of the Perrigo transaction."

About Abbott:

Abbott is a global healthcare company devoted to improving life through the development of products and technologies that span the breadth of healthcare. With a portfolio of leading, science-based offerings in diagnostics, medical devices, nutritionals and branded generic pharmaceuticals, Abbott serves people in more than 150 countries and employs approximately 73,000 people.

Visit Abbott at www.abbott.com and connect with us on Twitter at @AbbottNews.

SOURCE Abbott