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Mylan Completes Acquisition of Agila to Create Leading Global Injectables Platform
Date:12/4/2013

PITTSBURGH, Dec. 4, 2013 /PRNewswire/ -- Mylan Inc. (Nasdaq: MYL) today announced that it has completed the acquisition of the Agila injectables businesses from Strides Arcolab Limited (BSE: 532531, NSE: STAR) for up to $1.75 billion, which includes $250 million in contingent consideration. Since the initial announcement of this acquisition, the final transaction terms have been restructured to include provisions such as a hold back, or contingent consideration, of $250 million of the potential $1.75 billion total purchase price, which will be payable in whole or in part to Strides upon satisfaction of certain regulatory conditions, and an enhanced escrow arrangement to fund any potential regulatory remediation costs.

Separately and coincident with the closing of the Agila transaction, a number of key commercial enhancements have taken place that will reduce Agila's historic, long-term reliance on a business-to-business model and increase value to Mylan. These changes unlock commercial rights and economics in many of Mylan's key growth markets and improve the long-term commercial profile of Agila for Mylan. Some of these key changes include regaining full commercialization rights for most of Agila's U.S. portfolio, both marketed and pipeline products, including all oncolytics, and regaining significant product rights in Canada, Australia, Brazil, Japan and South Korea.

Mylan CEO Heather Bresch commented, "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. We believe we can generate significant growth from this business as we
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SOURCE Mylan Inc.
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