Mylan to Shutter Meda's U.S. Headquarters

Source: NJ.com

Oct 31, 2016

Just months after its $7.2B acquisition of Meda, Mylan is closing the company's U.S. headquarters in Somerset, NJ.

The closing, effective December 31 2016, will result in 94 layoffs.

Last February, Mylan agreed to buy Sweden’s Meda AB for $7.2 billion in cash and stock -- a price that represented a 92% premium -- and investors were not pleased. A large part of Mylan's attraction to the Meda deal involved acquiring Meda's European EpiPen sales, as well as its over-the-counter business. Meda turned down two previous buyout offers from Mylan in 2014. The acquisition of Meda also provides Mylan with entry into a number of new and attractive emerging markets.

Read the NJ.com release