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Mylan to Acquire Bioniche Pharma Global Injectable Pharmaceuticals Business
Date:7/14/2010

PITTSBURGH, July 14 /PRNewswire-FirstCall/ -- Mylan Inc. (Nasdaq: MYL) today announced plans to acquire Bioniche Pharma Holdings Limited, a privately held, global injectable pharmaceutical company for $550 million in cash. Bioniche Pharma will provide Mylan not only an immediate entry into the North American injectables market but also a platform for future growth opportunities. This transaction is expected to be accretive to Mylan's earnings in year one, without accounting for any operational or other synergies.

Mylan Chairman and CEO Robert J. Coury said: "We are extremely pleased to be adding this complementary, high growth, high margin business to our one-of-a-kind global pharmaceutical platform. Bioniche Pharma has maintained a long-held strategy of focusing on quality injectable products with limited competition and difficult-to-develop and -manufacture compositions. With this one transaction, we will have acquired the necessary critical mass to compete in the attractive U.S. injectables market as well as the ability to even further leverage this business throughout the rest of our global commercial platform."

In addition, Bioniche Pharma combined with UDL Laboratories, Mylan's unit dose business, will form "Mylan Institutional," a new hospital/institutional business in the North American region of the company's generics segment. This business will focus on the hospital and institutional markets through which Mylan will serve group purchasing organizations, wholesalers, hospitals, surgical and radiology services, home infusion and retail areas with a differentiated and tailored product offering.

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SOURCE Mylan Inc.
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