Mylan Wants Matrix Reloaded – Announces Delisting Plans For $133 Million
This article was originally published in PharmAsia News
Executive Summary
MUMBAI - Mylan - the third-largest generic drug maker in the world - plans to de-list its Indian subsidiary Matrix Labs from the Indian stock exchanges at a cost of $133 million. The Pittsburgh-headquartered generic drug maker has approved an indicative acquisition price of up to 150 rupees ($3 per share), reflecting a premium of 27 percent of the closing share price of Matrix on March 26. Mylan will use current cash balances to fund the additional acquisition of Matrix shares
You may also be interested in...
India Market Bug Bites Mylan As It Sets Sights On Stage-Wise Product Rollouts
Following on the hefty deal struck last week between Abbott and Piramal Healthcare for the Indian firm's generics business, U.S. generics leader Mylan prepares to enter the Indian formulations market in a big way.
India Market Bug Bites Mylan As It Sets Sights On Stage-Wise Product Rollouts
Following on the hefty deal struck last week between Abbott and Piramal Healthcare for the Indian firm's generics business, U.S. generics leader Mylan prepares to enter the Indian formulations market in a big way.
After Abbott, India Market Bug Bites Mylan Too As It Sets Sights On Stage-wise Product Rollout
MUMBAI - The potential of the Indian pharmaceutical market to double from the present $8 billion to $15 billion in the next five years led Abbott last week to strike the most richly valued deal for Piramal Healthcare's generic drug businesses, but the action for a share of the Indian market is set to accelerate further as Mylan - the third largest generic company in the world and the largest in the U.S. with sales exceeding $5 billion - is preparing to enter the Indian formulations market