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Mylan to Acquire Agila to Create Leading Global Injectables Platform
Date:2/27/2013

gila's manufacturing base represents one of the largest steriles capacity in India and one of the largest lyophilization capacities in the world. In addition to its established presence in developed markets, Agila has a strong position in high-growth emerging markets, including Brazil.

Agila's capabilities complement Mylan's existing injectables platform of more than 500 products marketed globally, including 55 ANDAs, and its high quality sterile manufacturing facilities in Ireland and India.

The global generic injectables market is expected to grow at a compound annual growth rate of 13%[1] from 2011-2017 driven by patent expiries, outpacing most other dosage forms. The combined Mylan/Agila portfolio will represent approximately 70% of regulated market demand for injectables and the combined R&D platform and manufacturing capabilities will position Mylan to be a significant participant in advanced new technologies to drive future growth.

Transaction Terms

Mylan will pay Strides Arcolab $1.6 billion in cash. The agreement also provides for up to an additional $250 million in potential payments subject to the satisfaction of certain conditions by Strides. Mylan is not assuming any outstanding debt or acquiring the business's cash as part of the transaction. Mylan has obtained a commitment letter from Morgan Stanley for a new $1 billion senior unsecured bridge term loan in connection with the planned acquisition. This bridge, together with internal sources, including available cash and existing lines of credit, is expected to be sufficient to finance the transaction. Mylan expects that its credit profile would not be materially altered as a result of this transaction. The transaction has been unanimously approved by Mylan's board of directors.

Morgan Stanley is serving as financial advisor to Mylan, and Skadden, Arps, Slate,
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SOURCE Mylan Inc.
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