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Mylan Expands Global Injectable Drugs Market Presence

By BiotechDaily International staff writers
Posted on 19 Mar 2013
Generic pharmaceutical giant Mylan (Pittsburgh, PA, USA) is acquiring the injectable drugs unit of Strides Arcolab (Bangalore, India) for USD 1.6 billion, in a bid to expand its presence in the fast-growing generic injectables market.

The deal for Agila Specialties (Bangalore, India) and its overseas specialties subsidiary, Agila Specialties Asia (Singapore), both wholly owned by Strides Arcolab, ends months of uncertainty regarding its future sale, with reports suggesting Pfizer and Otsuka Holdings as other potential buyers. Under the terms of the agreement, Strides and its subsidiary will receive an aggregate sum of USD 1,600 million in cash on closing, and a potential additional consideration of up to USD 250 million subject to the satisfaction of certain conditions by Strides. The deal is expected to help Mylan, one of the world's largest generic drug makers, double its injectable drugs portfolio.

Mylan is a global pharmaceutical company with a portfolio of over 1,100 generic pharmaceuticals and several brand medications. In addition, it offers a wide range of antiretroviral therapies and operates one of the largest active pharmaceutical ingredient manufacturers. Agila Specialties is a leading global specialty injectables business focused on key domains including oncolytics, penems, penicillin, cephalosporins, and ophthalmics in India and overseas. The company operates from nine world-class global manufacturing facilities, including one of the largest sterile capacities in India and amongst the largest lyophilisation capacities in the world.

“The addition of Agila to Mylan’s existing injectables platform will immediately create a new, powerful global leader in this fast-growing, attractive market segment and accelerate our target of becoming a top-three global player in injectables,” said Heather Bresch, CEO of Mylan. “Agila’s broad product portfolio and pipeline, which is very complementary to Mylan’s, is the result of best-in-class research and development and an industry-leading track record of securing product approvals. Importantly, Agila will bring Mylan one of the most state-of-the-art, high-quality injectables manufacturing platforms in the industry.”

“I am excited by the combination of our Agila business with Mylan as it allows Mylan to leverage its operational base to become a leading global injectables company in the coming years and offers great opportunities to the employees who have made Agila what it is today,” said Arun Kumar, Executive Vice Chairman and Group CEO of Strides Arcolab. “Mylan’s long-standing commitment to quality, its track record of integrity and reliability, and powerful global platform make Mylan the perfect fit for this business, both culturally and from a commercial perspective.”

Related Links:

Mylan
Strides Arcolab
Agila Specialties



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