Biotech Values

[DewDiligence]

MYL acquires Sweden’s Meda—(MEDA-A.ST)—for $7.2B in cash and stock—a 92% premium to Meda’s closing price today:

http://finance.yahoo.com/news/mylan-acquire-meda-210100443.html

Meda, which MYL attempted to acquire in 2014, sells specialty drugs, branded generics, and OTC products in 150 countries. Meda is a reasonable (but smaller) alternative to PRGO, which MYL attempted to acquire in 2015.

The nominal deal value is $9.9B, including the assumption of $2.7B in debt.

MYL fell 9% in AH trading, although some of the drop may be attributable to MYL’s tepid guidance for 2016 non-GAAP EPS of $4.85-$5.10 (#msg-120453066).