Drug major Mylan has rejected a $40 billion unsolicited merger offer from Israel's Teva Pharmaceutical Industries calling the bid undervalu...

Teva, the world’s biggest maker of generic medicines, offered $82 a share in cash and stock for Mylan, according to a statement.

The US Supreme Court has sent back the patent case related to Teva's multiple sclerosis drug Copaxone for a review by the Federal Circuit.