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Teva completes purchase of 4.61% interest in Mylan

Staff writer |
Teva Pharmaceutical Industries has completed the purchase of 4.61 percent of all outstanding shares of Mylan N.V.

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That will enable Teva to commence proceedings before the Dutch Enterprise Chamber, should it become necessary.

Teva has advised Stichting Preferred Shares Mylan that if the Mylan Extraordinary General Meeting (EGM) on the Perrigo transaction is held no later than August 31, 2015, Teva will limit its aggregate shareholding in Mylan prior to the EGM to less than 5 percent of the outstanding shares of Mylan.

Earlier this month, Teva Pharma sent a letter to Myan explaining that they are stronger than ever, both in its generic and specialty businesses.

"We have significantly strengthened the fundamentals of our company, solidified our key franchises, put in place robust engines for growth and provided a clear roadmap to further reinforce our industry-leading position," Teva said in the letter.

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