Mylan agrees to pay $1.6 billion for Agila Specialities

Mylan plans to buy the injectable medicine unit of India’s Strides Arcolab.

Mylan agrees to pay $1.6 billion for Agila Specialities
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...

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