Features Partner Sites Information LinkXpress
Sign In
Advertise with Us
RANDOX LABORATORIES

Events

06 Jun 2016 - 09 Jun 2016
22 Jun 2016 - 24 Jun 2016
04 Jul 2016 - 06 Jul 2016

Mylan Expands Global Injectable Drugs Market Presence

By BiotechDaily International staff writers
Posted on 19 Mar 2013
Print article
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



Print article

Channels

Genomics/Proteomics

view channel
Image: A dark field photomicrograph showing the spirochete bacterium Borrelia burgdorferi, the pathogen responsible for causing Lyme disease (Photo courtesy of the CDC).

Statins May Help Block Transmission of Lyme Disease

A recent study found that treatment with cholesterol-lowering statins reduced the number of Borrelia burgdorferi bacteria in rodents, which helped to block transmission of Lyme disease. Lyme disease... Read more

Drug Discovery

view channel

Experimental Small-Molecule Anticancer Drug Blocks RAS-binding Domains

The experimental small-molecule anticancer drug rigosertib was shown to block tumor growth by acting as an RAS-mimetic and interacting with the RAS binding domains of RAF kinases, resulting in their inability to bind to RAS, which inhibited the RAS-RAF-MEK pathway. Oncogenic activation of RAS genes due to point mutations... Read more

Biochemistry

view channel
Image: A space-filling model of the anticonvulsant drug carbamazepine (Photo courtesy of Wikimedia Commons).

Wastewater May Contaminate Crops with Potentially Dangerous Pharmaceuticals

Reclaimed wastewater used to irrigate crops is contaminated with pharmaceutical residues that can be detected in the urine of those who consumed such produce. Investigators at the Hebrew University... Read more

Lab Technologies

view channel

Huge Modifiable Biomedical Database to Be Available on the Wikidata Site

Genome researchers are exploiting the power of the open Internet community Wikipedia database to create a comprehensive resource for geneticists, molecular biologists, and other interested life scientists. While efficiency in generating scientific data improves almost daily, applying meaningful relationships between... Read more

Business

view channel

European Biotech Agreement to Promote Antigen-Drug Conjugation Technology

Two European biotech companies have joined forces to exploit and commercialize an innovative, site-specific ADC (antigen-drug conjugate) conjugation technology. ProBioGen (Berlin, Germany), a company specializing in the development and manufacture of complex glycoproteins and Eucodis Bioscience (Vienna, Austria), a... Read more
Copyright © 2000-2016 Globetech Media. All rights reserved.