Mylan Announces Voluntary De-listing Of 1.25% Senior Convertible Notes Due 2012 From Nasdaq
PITTSBURGH, Jan. 5, 2011 /PRNewswire/ -- Mylan Inc. (Nasdaq: MYL) today announced that it has notified The Nasdaq Stock Market, an exchange of the NASDAQ OMX Group Inc. (Nasdaq: NDAQ), that it intends to voluntarily de-list its 1.25% Senior Convertible Notes due 2012 from the Nasdaq Capital Market, on which the notes trade under the ticker symbol "MYLNG," effective as of the open of trading on January 28, 2011. The notes will continue to trade over-the-counter (OTC) with trade data available through the Financial Industry Regulatory Authority's Trade Reporting and Compliance Engine ("TRACE"). Moving the trading of the notes from Nasdaq to the OTC market will bring the company in line with standard capital markets practice and reduce the company's regulatory burden.
On January 5, 2011, Nasdaq notified the company that the notes did not have the number of market makers required by Nasdaq's continued listing standards. While there are multiple securities firms that regularly trade the notes, these firms do not meet the strict criteria required of a market maker under Nasdaq's listing standards. The de-listing of the notes from Nasdaq does not affect the listing or trading of the company's common stock, ticker symbol "MYL," which will continue uninterrupted on Nasdaq.
Mylan Inc. ranks among the leading generic and specialty pharmaceutical companies in the world and provides products to customers in more than 140 countries and territories. The company maintains one of the industry's broadest and highest quality product portfolios supported by a robust product pipeline; operates one of the world's largest active pharmaceutical ingredient manufacturers; and runs a specialty business focused on respiratory, allergy and psychiatric therapies. For more information, please visit www.mylan.com.
SOURCE Mylan Inc.
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