Cravath Reps Mylan In $550M Bioniche Purchase

Law360, New York (July 15, 2010, 10:45 AM EDT) -- Generics maker Mylan Inc. has agreed to buy Irish injectables manufacturer Bioniche Pharma Holdings Ltd. for $550 million in cash.

The acquisition will give Mylan an entry into the North American injectables market and will make commercialization of its biologics products more viable, the company said Wednesday.

Mylan expects to finance the transaction using a combination of cash on hand and available borrowings, and will not assume any of Bioniche's outstanding debt, it said.

The companies expect the deal to close within 60 days.

Bioniche, based...
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