Mylan Continues Cost-Cutting Measures

Nov. 9, 2017

Generic drugmaker Mylan announced it was expanding its restructuring plan to streamline global operations, according to an article in the Pittsburgh Post-Gazette.

The moves are expected to result in pre-tax restructuring charges in an amount between $375 million and $450 million, resulting from severance and other employee-related costs, the company said in a filing with the SEC. That amount includes $262.4 million in restructuring charges taken since the program was announced in December 2016, the story said.

Although the filing did not detail additional restructuring steps, Mylan previously said the plan included cutting about 10 percent of its workforce and shutting down certain operations if necessary.

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