So much for Mylan's
The company didn't say why it decided to keep Dey -- just that it completed a "comprehensive review of strategic alternatives." I could be wrong, but I think that's code for “no one was willing to offer us enough for it.”
However, Mylan still needs cash to pay off the huge loans it took out to help pay for the acquisition.
One solution was to sell off some of its assets, like royalty rights for high-blood-pressure medication Bystolic -- sold to partner Forest Labs
If it can find another way to pay down the debt, keeping Dey could pay off in the long term for both the company and its investors. Other generic-drug companies, like Teva Pharmaceuticals
Mylan's been punished pretty hard by investors since it announced the acquisition of Merck KGaA's generic-drug business. If it can hit its guidance of tripling adjusted EPS from 2008 to 2010, investors who buy in at these levels could be handsomely rewarded.
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