Mylan Bolsters Global Injectables Business with Deal to Acquire Agila Specialities from Strides Arcolab

Abstract

Putting an end to speculation about the future of the division, India’s Strides Arcolab has agreed to divest its generic injectables unit Agila Specialities to Mylan for US$1.6 B in cash plus up to an additional US$250 M subject to the satisfaction of certain conditions by Strides. The deal, which values Agila at 6.3 times 2012 sales and 18.6 times EBITDA, will provide Mylan with critical mass in injectable drugs and an entry into high-growth emerging markets such as Brazil.