Edmonton Journal

Drugmaker Mylan spurned again

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NEW YORK — Generic drugmaker Mylan raised its offer for over-thecounter medicines maker Perrigo Wednesday, but the Irish company again rejected Mylan’s overture.

Mylan said Wednesday it will pay $232.23 for each share of Perrigo in a mix of cash and stock, valuing Perrigo at about $34.1 billion US.

Perrigo says the offer isn’t in its best interest and that it isn’t worth as much as Mylan says.

Perrigo rejected an offer from Mylan last week, and Mylan itself is trying to fend off an acquisitio­n from larger competitor Teva, already the largest generic drug seller in the world.

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