PITTSBURGH — Mylan has completed its acquisition of the injectables business of Strides Arcolab, a deal worth nearly $2 billion, the drug maker said.
Mylan said the acquisition of Agila could cost up to $1.75 billion, including a $250 million contingent consideration. As part of the acquisition, Mylan will gain full commercialization rights for most of Agila's U.S. portfolio of experimental and marketed products, including cancer drugs, as well as significant product rights in Canada, Australia, Brazil, Japan and South Korea.
"The acquisition of Agila will create a global injectables leader, expanding and strengthening Mylan's existing injectables platform and portfolio and providing Mylan entry into exciting new geographic markets," Mylan CEO Heather Bresch said. "We believe we can generate significant growth from this business as we maximize the capabilities of this platform and accelerate the many untapped opportunities we see ahead."