In a m&a agreement, Mylan has announced to buy an Indian drug manufacturing plant for about $32.5 million, the Cecil-based company said on Wednesday.
Owned by SMS Pharmaceuticals Ltd., the plant specializes in making cancer medications and the active ingredients for cancer drugs.
The acquisition of this facility will support several of Mylan’s strategic growth drivers, particularly expansion of our institutional business,” the company said in a statement.
Mylan, through its India-based subsidiary Mylan Laboratories Ltd., operates nine pharmaceutical manufacturing plants in India and China. It acquired the Indian operations in 2007 when it purchased Matrix Laboratories, one of the world’s largest producers of active pharmaceutical ingredients.
Mylan expects the deal for the SMS facility to close in the first quarter of next year.
For further deal information visit Current Agreements (subscription required)
Read: more on M&A deals in pharma, biotech, life science partnering deal news, insights and glossary
Related reports: Merger and Acquisition Terms and Agreements
View: Top 50 pharma – overview of top 50 pharmaceutical companies by revenue – partnering activity, deal news, partnering dealtalk
View: Current Partnering’s Partnering Scorecard – view top life science partnering deals by value
View: Current Partnering’s Deal Metrics – the latest deal trend infographics for life science deal making
View: Current Partnering’s Big Pharma Deal Making Scorecard – latest trends in big pharma deal making activity