Mylan said that it plans to form a committee to review its options as the generic giant continues to face declining prices for many of its products in the U.S. market.
According to a Statement from Mylan's Board of Directors:
"....we believe that the US public markets continue to underappreciate and undervalue the durability, differentiation and strengths of Mylan's global diversified business, especially when compared to our peers around the globe. Therefore, while we will continue to execute on our best-in-class, long-term focused sustainable strategy, the Board has formed a strategic review committee and is actively evaluating a wide range of alternatives to unlock the true value of our one-of-a-kind platform."
The company has faced delays in bringing a complex generic version of dry-eye drug Restasis to market as well as months of shortages related to its EpiPen product.
The board didn’t give a timetable for the review or specify how far-reaching it would be. The processes can involve anything from considering small asset sales to selling the entire company.