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Mylan to pay $1.6 billion for company in India
February 27, 2013 5:13 pm
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Cecil-based generic drugmaker Mylan Inc. announced today that it agreed to buy Agila Specialties Private Ltd. a Bangalore, India, maker of generic injectable products from Strides Arcolab Ltd. for $1.6 billion in cash.
The deal, which is expected to close in the fourth quarter pending regulatory approvals, will expand Mylan's global injectable business and give it entry into new high-growth markets, the company said in a statement.
Separately, Mylan reported fourth-quarter profits of $162 million, or 39 cents per share, up from $129.5 million, or 30 cents, in the same period a year earlier.
Both announcements were made after the close of the stock market.
Patricia Sabatini: psabatini@post-gazette.com or 412-263-3066.
First Published February 27, 2013 5:12 pm
First Published February 27, 2013 5:12 pm
