NEW YORK: Mylan Inc. has decided to buy health-care businesses of women from Indian partner Famy Care Ltd. for $800 million. The transaction will cost $750 million in cash plus additional payments of as much as $50 million, Canonsburg, Pennsylvania-based Mylan said today in a statement. The companies intend to complete the deal in the second half of this year.
Mylan agreed last year to acquire European assets from Abbott Laboratories and adopt a Dutch legal address, lowering its corporate tax rate. The purchase of units from Mumbai-based Famy Care will complement the Abbott deal, Mylan said today.
“With today’s acquisition, we are building on this successful partnership and further accelerating our global growth in this important therapeutic area” of women’s health care, Mylan Chief Executive Officer Heather Bresch said in the statement.
Famy Care offers women’s products including oral and injectable contraceptives, intra-uterine devices or IUDs, and hormone-replacement therapies. It is the world’s largest producer of generic oral contraceptive pills.
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