One look at Mylan N.V..’s stock price on Tuesday morning and investors might get a clue as to what sort of chances Teva Pharmaceuticals Industries has of pulling off a union of two of the world’s top generic drug makers.
Mylan
MYL, +8.85% shares hovered around $74 in morning trades, up 8%, as investors waited to see whether the company would again respond negatively to Teva’s
TEVA, +1.37% overtures, first reported last week. But the shares reacted tentatively, considering Teva is offering $82 a share for Mylan as part of a $40 billion deal.
Analysts and portfolio managers were skeptical that Teva could pull off a marriage of what is now the world’s top generic drug maker with Mylan, the world’s No. 4 in that department.
Some argue that Teva and Mylan are the world’s two biggest generic specialists, and a massive overlap in businesses would trigger the alarms of antitrust regulators.
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