Mylan Inc. has signed a definitive agreement to acquire Agila Specialties Private Ltd., a developer, manufacturer and marketer of high-quality generic injectable products, from Strides Arcolab. The $1.6 billion cash acquisition expands Mylan’s global injectables platform and provides entry into new high-growth geographic markets. The transaction, subject to certain closing conditions, is expected to close in 4Q13.
 
Agila, headquartered in Bangalore, India, has a product portfolio of more than 300 filings approved globally and marketed in 70 countries, including 61 ANDAs approved by the FDA. Agila has a global pipeline of approximately 350 filings pending approval. The company currently produces products across nine manufacturing facilities in India, Brazil and Poland. Agila’s manufacturing capabilities include vials, pre-filled syringes, ampoules, lyophilization, cytotoxics, and antibiotics.
 
Mylan chief executive officer Heather Bresch said, “The addition of Agila to our existing injectables platform will immediately create a new, powerful global leader in this fast-growing, attractive market segment and accelerate our target of becoming a top-three global player in injectables. Further, the acquisition of this unique asset delivers on several of Mylan’s strategic growth drivers by further expanding and diversifying our product portfolio and geographic reach, strengthening our presence in the institutional channel, and positioning us to maximize our generic biologics portfolio. Our significantly expanded manufacturing capacity will allow us to vertically integrate our injectables platform and fast-track our ability to pursue additional product opportunities and partnerships to facilitate long-term growth.”
 
Arun Kumar, executive vice chairman and Group chief executive officer of Strides Arcolab said, “Our investments in the Agila business, together with the operational excellence of our employees, have led to the creation a global, high-quality specialty injectables business with an industry-leading pipeline and best-in-class infrastructure. We believe Agila, its partners, customers and employees across all of its markets will benefit significantly from Mylan’s global reach and strong position in the global generic and specialty pharmaceutical sector. Mylan’s long-standing commitment to quality, its track record of integrity and reliability, and powerful global platform make Mylan the perfect fit for this business, both culturally and from a commercial perspective.”

Jefferies International Limited acted as sole financial advisor to Strides in this transaction.