Mylan acquire Agila from Strides Arcolab $1.6 billion

Mylan to acquire Agila from Strides Arcolab for $1.6 billion

7:56 AM, 28th February 2013
Mylan to acquire Agila from Strides Arcolab for $1.6 billion

PITTSBURGH, US: Mylan Inc has signed a definitive agreement to acquire Agila Specialties Private Limited, a developer, manufacturer and marketer of high-quality generic injectable products, from Strides Arcolab Limited for $1.6 billion in cash. The acquisition of Agila will create a global injectables leader, significantly expanding and strengthening Mylan’s global injectables platform and providing Mylan entry into new high-growth geographic markets.

The acquisition is expected to be immediately accretive to Mylan’s adjusted diluted earnings per share following closing. The transaction is expected to close in the fourth quarter of 2013, subject to regulatory approvals and certain closing conditions.

“By combining Agila’s strong injectables capabilities with Mylan’s powerful global engine, we will catapult our injectables business to a new level. Agila will bring Mylan one of the deepest and broadest global injectables portfolios in the industry, and together we will have more than 700 marketed injectables products and a global pipeline of more than 350 injectables products pending approval. In addition, Agila will further expand Mylan’s geographic footprint, providing us with entry into key growth markets, such as Brazil, and position us to leverage our global portfolio in these exciting markets, in line with our mission of providing the world’s 7 billion people access to high quality medicine,” said Rajiv Malik, President, Mylan.

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