Healthcare Industry News: Mylan Laboratories
News Release - December 6, 2006
Mylan Announces the Hiring of David F. Mulder to the Position of Senior Vice President, Corporate and Business DevelopmentPITTSBURGH, Dec. 6 (HSMN NewsFeed) -- Mylan Laboratories Inc. (NYSE: MYL ) today announced the appointment of David F. Mulder to the position of Senior Vice President, Corporate and Business Development.
Mr. Mulder has extensive experience in international finance and mergers and acquisitions, having most recently served as Senior Vice President, Corporate and Business Development, for Mayne Pharma, a leading international generic injectable pharmaceutical company. Mr. Mulder has also held executive positions with various GE Capital companies leading their corporate and business development activities. Mr. Mulder began his career with Arthur Andersen Consulting and Arthur Andersen.
Mylan Vice Chairman and Chief Executive Officer Robert J. Coury commented, "As we have stated, Mylan is committed to expanding and enhancing our senior management talent both domestically and internationally, and we are fortunate to be able to add a talented proven leader like David to extend our abilities in focusing on corporate and business development activities. Our current transaction with Matrix Laboratories as well as the strategic brand alliances that we've secured for our industry-leading transdermal business are just the beginning of the successful execution of our long-term strategic growth plan, and David will be a leading force in identifying and executing additional opportunities.
"In a related development, I'm pleased to announce that Mylan is opening an office in central New Jersey where David and several members of his team will be located. The Mylan New Jersey office is located in the heart of the pharmaceutical industry and will be a great benefit as we increase our corporate and business development initiatives."
Mr. Mulder commented, "Mylan is well known and highly respected as a leader in the generic industry, and I am proud to be joining the organization just as it has expanded and will continue to further expand onto a global stage. Mylan is well-positioned with a strong platform for the future, and we are focused on aggressively pursuing a wide range of strategic opportunities that will further enhance Mylan's future success."
Mylan Laboratories Inc. is a leading pharmaceutical company with three principal subsidiaries: Mylan Pharmaceuticals Inc., Mylan Technologies Inc. and UDL Laboratories Inc. Mylan develops, licenses, manufactures, markets and distributes an extensive line of generic and proprietary products. For more information about Mylan, please visit www.mylan.com.
This press release includes statements that constitute "forward-looking statements," including with regard to the Company's anticipated growth and future opportunities, its planned acquisition of a majority stake in Matrix Laboratories and its other strategic plans and initiatives. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Because such statements inherently involve risks and uncertainties, actual future results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: factors relating to satisfaction of the conditions to the Matrix acquisition; challenges and costs relating to integration of the two businesses; other risks inherent in acquisitions; the inability to reach mutually agreeable contract terms with potential strategic partners; the effects of vigorous competition on commercial acceptance of products and their pricing; the potential costs and product introduction delays that may result from use of legal, regulatory and legislative strategies by the Company's competitors and other third parties; changes in economic and financial conditions of the Company's business; uncertainties and matters beyond the control of management; and the other risks detailed in the Company's periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
Source: Mylan Laboratories
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