Features | Partner Sites | Information | LinkXpress
Sign In
GLOBETECH PUBLISHING LLC
GLOBETECH MEDIA
GLOBETECH PUBLISHING LLC

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



Channels

Drug Discovery

view channel
Image: Star-like glial cells in red surround alpha-beta plaques in the cortex of a mouse with a model of Alzheimer\'s disease (Photo courtesy of Strittmatter laboratory/Yale University).

Experimental Cancer Drug Reverses Symptoms in Mouse Model of Alzheimer's Disease

An experimental, but clinically disappointing drug for treatment of cancer has been found to be extremely effective in reversing the symptoms of Alzheimer's disease (AD) in a mouse model.... Read more

Biochemistry

view channel
Image:  Model depiction of a novel cellular mechanism by which regulation of cryptochromes Cry1 and Cry2 enables coordination of a protective transcriptional response to DNA damage caused by genotoxic stress (Photo courtesy of the journal eLife, March 2015, Papp SJ, Huber AL, et al.).

Two Proteins Critical for Circadian Cycles Protect Cells from Mutations

Scientists have discovered that two proteins critical for maintaining healthy day-night cycles also have an unexpected role in DNA repair and protecting cells against genetic mutations that could lead... Read more

Business

view channel

NanoString and MD Anderson Collaborate on Development of Novel Multi-Omic Expression Profiling Assays for Cancer

The University of Texas MD Anderson Cancer Center (Houston, TX, USA) and NanoString Technologies, Inc. (Seattle, WA, USA) will partner on development of a revolutionary new type of assay—simultaneously profiling gene and protein expression, initially aiming to discover and validate biomarker signatures for immuno-oncology... Read more
 
Copyright © 2000-2015 Globetech Media. All rights reserved.