Mylan makes tender offers as part of its purchase of Merck’s generic pharmaceutical business
PITTSBURGH Mylan Laboratories announced that it is commencing tender offers to purchase for cash any and all of its outstanding 5.750% Senior Notes due 2010 and 6.375% Senior Notes due 2015.
Mylan is making the tender offers as part of a broader strategy to establish its new global capital structure and in preparation for the consummation of its previously announced proposed acquisition of Merck’s generic pharmaceutical business. The share purchase agreement between Mylan and Merck Generics Holding GmbH, Merck S.A., Merck Internationale Beteiligung GmbH and Merck KGaA was dated May 12, 2007.
In conjunction with the tender offers, Mylan is also soliciting consents from the notes’ holders eliminate substantially all of the restrictions and rules governing the notes. Holders, therefore, cannot tender their notes without delivering their consent and cannot deliver a consent without tendering their notes.
Each of the tender offers will expire at 12:00 a.m. EST on September 28, 2007, unless any tender offer is extended at the sole discretion of Mylan.
Lilly, Takeda terminate contract
JAPAN Eli Lilly Japan and Takeda Pharmaceuticals have terminated an agreement to co-develop and co-market ruboxistaurin mesylate.
Ruboxistaurin mesylate is used to treat diabetic macular edema and diabetic peripheral neuropathy. The companies said that after looking at the overall results, the trials did not meet the criteria for Phase III studies and therefore they have agreed to terminate the contract.
Patent office announces final rule on claims
WASHINGTON The U.S. Patent and Trademark Office has issued a new rule that will change how many claims patent applications may contain, as well as how many continuing applications applicants may file.
The new rule requires that any third or subsequent continuing application that is a continuing application or a continuation-in-part application, and any second or subsequent request for continued examination in an application family, be filed to obtain consideration of an amendment, argument, or evidence, and be supported by a showing as to why the amendment, argument, or evidence sought to be entered could not have been previously submitted.
The revised rules also require an applicant to file an examination support document that covers all of the claims in an application if the application contains more than five independent claims or more than twenty-five total claims.
The new rule will go into effect on Nov. 1.