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10 months ago
BRIEF-Mylan agrees to $465 mln settlement over EpiPen classification
October 7, 2016 / 9:01 PM / 10 months ago

BRIEF-Mylan agrees to $465 mln settlement over EpiPen classification

Oct 7 (Reuters) - Mylan Nv

* Terms of settlement do not provide for any finding of wrongdoing on part of mylan inc. Or any of its affiliated entities or personnel

* Mylan will include a pre-tax charge of approximately $465 million in quarter ended sept. 30, 2016 as a result of this settlement

* Mylan is unable to predict with reasonable certainty ultimate outcome of certain significant items without unreasonable effort

* Fy2016 earnings per share view $4.95, revenue view $11.19 billion -- Thomson Reuters I/B/E/S

* In connection with settlement, co expects to enter corporate integrity deal with office of inspector general of department of health, human services

* Mylan will continue to work with government to finalize settlement

* Expects to enter into a corporate integrity agreement with office of inspector general of department of health and human services

* Terms provide for resolution of all potential rebate liability claims as to whether epipen should be subject to higher rebate formula

* Mylan nv says updates full year 2016 earnings guidance

* Mylan remains committed to its target of at least $6.00 in adjusted eps in 2018.

* Mylan is not providing forward looking guidance for full year 2016 u.s. Gaap eps guidance

* Says remains committed to its target of at least $6.00 in adjusted eps in 2018

* Majority of change in 2016 adjusted eps guidance due to changes in epipen auto-injector access programs,upcoming launch of generic to epipen auto-injector

* Terms provide for resolution of all potential rebate liability claims by federal,state governments as to whether epipen should be classified innovator drug for cms

* Mylan will continue to work with government to finalize settlement

* Says Expects Full Year 2016 Adjusted Diluted Earnings Per Ordinary Share ("Eps") To Be Between $4.70-$4.90 Source text for Eikon: Further company coverage:

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