Reginal Thomas
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Mylan plans to buy back $1 billion in stock

Mylan NV MYL.N, a generic drugmaker, plans to buy back $1 billion worth of shares, after Perrigo Co Plc’s shareholders denied its $26 billion hostile bid. The buyback plan expires on Aug. 27, 2016 according to Mylan, in a statement released on Monday. Shareholders for Perrigo rejected Mylan’s offer on Friday, putting an end to the Netherlands based drug makers seven month courting of its smaller rival.