Mylan, a Pennsylvania-based generic drug maker, has agreed to buy Agila Specialties, which produces generic injectable medicines, from India’s Strides Arcolab. It will pay $1.6 billion in cash and is expected to close the deal in the fourth quarter of this year.
The intention is for Mylan, already the second-biggest stand-alone generic drug manufacturer, to extend its international footprint by expanding into high-growth markets.
“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,” said Mylan chief executive Heather Bresch in a...
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