Mylan Acquires King For $4B In Move Toward Branded Drugs

Law360, New York (July 26, 2004, 12:00 AM EDT) -- Mylan Laboratories, the largest maker of generic drugs in the U.S., has agreed to acquire competitor King Pharmaceuticals for about $4 billion in a move widely seen as a part of a strategy to make inroads into the market for branded drugs.

The transaction was approved by the boards of both companies and is expected to close by the end of 2004, subject to regulatory and shareholder approvals. The board composition of Mylan will remain unchanged, Mylan said.

The deal was fueled by Mylan’s increasing focus...
To view the full article, register now.