Biotech Values

[DewDiligence]

Mylan’s CEO, Robert Coury, has a big mouth. But he
backs it up with a big open-market stock purchase.

http://biz.yahoo.com/ap/070615/mylan_labs_insider_trading.html?.v=1

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Mylan Labs CEO and Director Buy Stock As Share Price Lags

Friday June 15, 4:28 pm ET

WASHINGTON (AP) -- Mylan Laboratories Inc. Vice Chairman and Chief Executive Robert J. Coury made his first open-market stock purchases this week, buying $648,545 worth of his company's stock.

Coury's stock purchases, as well as a $74,600 purchase by director Rodney L. Piatt, come as Mylan's stock has lost more than 17 percent in value since it announced its intention to buy the Merck KGaA generic drug unit last month for $6.7 billion, which is more than Mylan's own market capitalization.

Coury and Piatt couldn't be reached immediately for comment.

Coury's purchases of a total of 35,000 shares on Thursday and Friday for an average price of $18.53 each are his first since he became chief executive of the Canonsburg, Pa., pharmaceutical company in 2002, according to data provider Washington Service. Piatt's purchase of 4,000 Mylan shares for $18.65 each on Wednesday is also his first at the company.

After the recent transactions, Coury has direct ownership over 328,263 shares and owns an additional 4,735 shares through his 401(k) plan, according to a filing with the Securities and Exchange Commission. Piatt now owns 10,000 Mylan shares, according to a separate filing.

Mylan shares rose 9 cents to $18.55 on Friday.
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