Mylan Laboratories, Canonsburg, Pennsylvania, is a pharmaceutical corporation.
Its stock is part of the S&P 500 index.
Mylan attracted a good deal of public attention in 2004 when it announced plans to acquire King Pharmaceuticals , of Bristol, Tennessee. The board alleged that the purchase would create synergy, combining King's relative expertise at research and product development with Mylan's more extensive marketing network.
But many investors were quite skeptical about the deal from the start, especially since the terms of the proposed stock swap seemed to entail a high premium for the value of King's assets.
In early 2005 the proposed acquisition unravelled.
Mylan Labs has four subsidiaries: Mylan Pharmaceuticals, Mylan Technologies, UDL Laboratories, and Mylan Vertek Pharmaceuticals.
Last updated: 05-28-2005 00:01:15