The US-based pharma major Mylan Inc. has acquired female healthcare businesses from Famy Care Limited, a specialty women’s healthcare company for $ 750 million in cash plus additional contingent payments of up to $ 50 million.
Under the deal, signed through Indian subsidiary Mylan Laboratories Limited, Famy Care will spin off its women’s healthcare business under a court approved scheme of demerger. Post demerger, Mylan will acquire the shares of the new resulting company.
According to the statement, this transaction complements Mylan’s pending acquisition of Abbott’s non-US developed markets specialty and branded generics business, which also includes a women’s healthcare portfolio. Additionally, the acquisition of the Famy Care businesses will make Mylan a hormonal contraceptives leader in high-growth emerging markets around the world.
Famy Care, headquartered in Mumbai, India, sells a range of women’s health products including oral and injectable contraceptives, intra-uterine devices (IUDs), tubal rings and hormone-replacement therapy products. It has four manufacturing facilities in India, two of which have been approved by the US Food and Drug Administration (FDA) and the European Union.
Mylan CEO Heather Bresch commented, “In 2008, Mylan established a partnership with Famy Care, significantly enhancing its presence in the women’s healthcare segment in the U.S. and other developed country markets. With today’s acquisition, we are building on this successful partnership and further accelerating our global growth in this important therapeutic area.”