Mylan will pay $1.6 billion in cash for the Banglaore-based medicine maker
Mylan, a Pennsylvania-based generic drug maker, has agreed to buy Agila Specialties, which produces generic injectable medicines, from India’s Strides Arcolab. It will pay $1.6 billion in cash and is expected to close the deal in the fourth quarter of this year.
The intention is for Mylan, already the second-biggest stand-alone generic drug manufacturer, to extend its international footprint by expanding into high-growth markets.
“The addition of Agila to our existing injectables...