Mylan to acquire Famy Care for $750 million

Mylan to acquire Famy Care for $750 million

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Mylan, the world’s second biggest generic drugs maker, will pay $750 million or about to buy the women’s health business of Mumbai-based Famy Care and expand its presence in the market for women’s contraceptives. Mylan will pay $50 million more to promoters of Famy Care and private equity partner AIF Capital if certain milestones are achieved. The acquisition is expected to give Mylan a significant presence in the women’s healthcare market, particularly in contraceptive products. The transaction will build on existing partnership with Famy Care in North America, Europe and Australia.

“The acquisition of the Famy Care businesses will make Mylan a hormonal contraceptives leader in highgrowth emerging  markets  around the world,” Mylan said in its release. “This transaction especially complements  Mylan’s  pending  acquisition of Abbott’s non-US developed markets specialty and branded generics business, which also includes a women’s health care portfolio and sales and marketing capabilities,” it added. The transaction is expected to close in the second half of 2015, subject to regulatory approvals and certain closing conditions.