Mylan Confronts Teva, Perrigo Buys From GSK

Six weeks after Israel’s Teva Pharmaceutical Industries made an unsolicited bid for Mylan, Mylan’s chairman says it’s time for Teva to “stop playing games” and either make a serious offer or leave it alone. According to Mylan, Teva’s purchases of Mylan shares on the open market possibly violate of U.S. antitrust laws. In any case, Teva’s actions have complicated Mylan’s attempt to acquire Ireland-based Perrigo. Meanwhile, Perrigo, which has rejected Mylan’s offers, is acquiring over-the-counter drugs from GlaxoSmithKline. With annual sales of $110 million, the products are being divested to satisfy regulators as GSK forms a consumer health joint venture with Novartis.