Skadden Reps Mylan In $1.6B Buy Of Indian Generics Maker

Law360, New York (February 28, 2013, 12:59 PM EST) -- Mylan Inc. has agreed to purchase a generic-drug maker from Indian pharmaceutical giant Strides Arcolab Ltd. for $1.6 billion, giving it access to a complementary portfolio and emerging markets worldwide, the Pittsburgh-based company announced Wednesday.

The firm will pay Strides $1.6 billion in cash for Agila Specialties Private Ltd. The deal, which includes an additional $250 million if Strides satisfies certain deal conditions, is subject to U.S. and Indian regulatory approvals and is slated to closed by the end of 2013.

The deal will complement Mylan's...
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