Hospira, Inc. has entered into an agreement to acquire Mayne Pharma for $2 billion. The acquisition adds generic capabilities and broadens Hopsira's global reach.
"This combination will create the leading generic injectable pharmaceuticals company in the world—delivering unparalleled value to the global healthcare system as well as our respective shareholders and employees," said Christopher B. Begley, chief executive officer, Hospira. "The Mayne acquisition more than doubles Hospira's international presence and significantly accelerates the expansion of our generic injectables business."
"Mayne has grown rapidly over recent years and we believe will continue to grow under the ownership of Hospira, which will provide access to greater Resources , particularly in the important U.S. market," said Peter Willcox, chairman, Mayne Pharma. "Hospira has a long heritage, much like our own company, and will encourage the development of our business to the benefit of our customers and employees."
The transaction is expected to be complete by the end of this year.