India approves $1.9 billion Agila acquisition

US generics company Mylan wins go-ahead to buy Bangalore-based injectables business from India’s Strides Arcolab.

India has approved a $1.9 billion bid for pharmaceuticals company Agila Specialties, as the country strives to dispel its image as a hostile destination for foreign investors.

Mylan, a US company that makes generic drugs, signed an agreement to buy Agila from Strides Arcolab in late February, but the acquisition stumbled after one set of regulators complained that selling to a foreign buyer could affect the availability of important cancer drugs in India.

The competition authorities took a different view, waiving the deal through on the grounds that Agila had an insignificant presence in the Indian pharmaceuticals market. Most of the drugs it makes are sold...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222