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Mylan Laboratories, an arm of the US-based Mylan NV, has completed the acquisition of certain women’s healthcare businesses, now known as Jai Pharma, which were spun off from Famy Care Ltd.
As per the announcement made in February 2015, the deal size was pegged at $800 million.
This was Mylan’s second purchase in India. In 2013, it had bought Bengaluru-based Strides Arcolab’s injectable drugs unit for $1.6 billion. “The completion of this transaction is an important milestone as we continue to grow our global women’s healthcare franchise,’’ Mylan CEO Heather Bresch said in a release issued here.
“We will continue to leverage our commercial platform in Europe, now enhanced through our recent Abbott deal, to serve this important therapeutic area,’’ he added,
The company also intends to build upon its existing commercial presence in emerging markets by leveraging its global supply chain.
This will include building upon its existing women’s care portfolio in India and expanding its reach in support of Family Planning 2020, a global partnership that aims to enable 120 million more women and girls to use contraceptives by 2020.
The acquisition is expected to be accretive to Mylan’s adjusted diluted earnings per share and Mylan’s financial leverage is not materially altered as a result of this transaction.
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