Mylan President Rajiv Malik added, "By combining Agila's strong injectables capabilities with Mylan's powerful global engine, we will catapult our injectables business to a new level. Agila will bring Mylan one of the deepest and broadest global injectables portfolios in the industry, and together we will have more than 700 marketed injectables products and a global pipeline of more than 350 injectables products pending approval. In addition, Agila will further expand Mylan's geographic footprint, providing us with entry into key growth markets, such as Brazil, and position us to leverage our global portfolio in these exciting markets, in line with our mission of providing the world's 7 billion people access to high quality medicine."
Mylan CFO John Sheehan said, "This is a financially and strategically compelling transaction, which is consistent with Mylan's stated acquisition strategy and financial commitments. We anticipate that the acquisition will immediately enhance our revenue and earnings growth upon closing, and nearly double our business from injectables in the first full year. Further, this transaction will significantly accelerate achievement of our $1 billion target for our institutional business. Following this transaction, we will maintain pro forma leverage well within our investment-grade parameters, providing us with ample financial flexibility to execute on other opportunities to accelerate our long-term growth targets and continue to maximize shareholder value. We remain committed to maintaining our investment-grade credit profile."
Commenting on the transaction,
SOURCE Mylan Inc.
Copyright©2012 PR Newswire.
All rights reserved
Related biology technology :
1. Todays Research on Mylan and Watson Pharmaceuticals: One Drug Makers Sorrow is Another Ones Joy
2. Moodys Upgrades Mylan
3. Green Dot Holdings LLC Acquires MGP’s Bioplastics Division
4. TNI BioTech Acquires Exclusive License To The Portfilio Of Patents Of Dr Ian S. Zagon, Dr. Patricia J. McLauglin And Dr. Jill Smith From The Penn State Research Foundation
5. Life Technologies Acquires BAC BV, Expands Capabilities in Bioprocessing
6. INRS acquires a groundbreaking advanced imaging infrastructure
7. Source Scientific LLC is 100% Acquired by BIT Analytical Instruments
8. WHEATON® Acquires Chromatography Vial Supply Company, MicroLiter
9. Ryan Herco Flow Solutions Acquires Expert Piping Supply, Inc.
10. Smith & Nephew Announces Agreement To Acquire Assets Of Healthpoint Biotherapeutics
11. Nu Skin Enterprises Enters Into Agreement To Acquire NOX Technologies