Mylan plans more restructuring moves

Generic drug giant Mylan on Tuesday said it was expanding a restructuring plan aimed at streamlining its global operations. The actions are expected to result in pre-tax charges totaling between $375 million and $450 million, mainly for severance and other employee-related costs, the company said in a filing with the U.S. Securities and Exchange Commission. The amount includes $262.4 million in restructuring charges taken since the program was announced in December 2016, the company said. The filing did not explain what the additional restructuring steps entailed. Mylan previously said the plan included cutting roughly 10 percent of its workforce and the possible shutdown of certain operations.

Specialty metals producer cashing in on bull market

Allegheny Technologies will sell 17 million shares of its stock and use the proceeds to pay off highpriced debt. The Pittsburgh specialty metals producer said any money left over after paying off $350 million in senior notes will be used for general corporate purposes. Allegheny Technologies borrowed the money at 9.38 percent. Up to 2.6 million additional shares could be sold if investor demand warrants, the company said. The offering comes as Allegheny Technologies’ shares are handily outperforming the broad market.

Southwest Airlines to launch service to Cancun in June

Southwest Airlines is ready to start its first international destination from Pittsburgh International Airport. The carrier will launch seasonal service to Cancun, Mexico, on Saturdays starting June 9 and continuing through Aug. 4. The flight will leave Pittsburgh at 7:30 a.m. It marks the first international market served from Pittsburgh by the airline since it first landed here in 2005. With the addition, Southwest will fly to 18 destinations from the airport, the most of any airline. It now hauls about 30 percent of all passengers