News Release Detail

September 5, 2018

Mylan Statement: Novartis TOBI Podhaler® and TOBI® Solution Agreement

We are pleased to confirm that on Aug. 31, 2018, Mylan closed an agreement with Novartis to purchase the worldwide rights to commercialize their global cystic fibrosis products consisting of TOBI Podhaler® and TOBI® solution, which will further enhance Mylan’s respiratory portfolio in the U.S., Europe and certain Rest of World markets. The transaction was subject to customary closing conditions, including antitrust clearances, and certain pre-closing confidentiality restrictions. Our financial disclosure related to this transaction was included in our second quarter 2018 Form 10-Q, in which we stated that Mylan entered into the agreement on July 30, 2018, for approximately $463 million and the company expects to pay approximately $240 million in 2018.