Mylan to increase presence in the North American injectable pharmaceutical market through acquisition of Bioniche.
Date of publication: July 21, 2010
Mylan has acquired Bioniche Pharma for $550 million in cash. Together with Mylan’s unit dose business UDL Laboratories they will merge to form Mylan Institutional. See this illustrated on our 2010 M&A Scorecard
The merger will give access to the North American injectables market as well as leveraging it to the throughout the rest of the world.
This business will focus on the hospital and institutional markets will serve group purchasing organizations, wholesalers, hospitals, surgical and radiology services, home infusion and retail areas with a differentiated and tailored product offering.
This acquisition of Bioniche is the latest company to acquired by Mylan and follows the acquisition of Somerset Pharm and Matrix Labs in 2008 and 2006.
Tim Martin
July2010