Mylan to acquire Famy Care to create women’s healthcare franchise

The transaction is expected to close in the second half of 2015, subject to regulatory approvals and certain closing conditions

Mylan Inc’s Indian subsidiary Mylan Laboratories signed a definitive agreement to acquire certain female healthcare businesses from Famy Care, a speciality women’s healthcare company with global leadership in generic oral contraceptive products (OCPs) for $750 million in cash plus additional contingent payments of up to $50 million.

The acquisition will build on Mylan’s existing partnerships with Famy Care in North America, Europe and Australia, and provide Mylan with an enhanced and now vertically integrated platform that will accelerate the company’s growth in the important global women’s healthcare space. This transaction especially complements Mylan’s pending acquisition of Abbott’s non-US developed markets speciality and branded generics business, which also includes a women’s healthcare portfolio and sales and marketing capabilities.

The transaction is expected to close in the second half of 2015, subject to regulatory approvals and certain closing conditions.

Heather Bresch, Chief Executive Officer, Mylan commented, “In 2008, Mylan established a partnership with Famy Care, significantly enhancing its presence in the women’s healthcare segment in the US and other developed country markets. With today’s acquisition, we are building on this successful partnership and further accelerating our global growth in this important therapeutic area.”

Rajiv Malik, President Mylan added, “By adding this vertically integrated business and globalising our women’s healthcare platform, we are creating the right foundation to become a leader in this growing, attractive sector. We see opportunities for generating more front-end sales, in addition to Famy Care’s successful partnering strategy, as a result of our exceptional global infrastructure.”

JP Taparia, Non-executive Chairman of Famy Care said, “We foresee significant opportunities in the women’s health care business across developed and emerging markets, and the proposed transaction provides an opportunity for our team to capture the opportunity in an even more effective manner. In 2010, we started the process of transitioning from a family-owned business into a meaningful institutional player in the global pharma industry by enlarging our shareholder base with the investment by pan-Asian private equity firm, AIF Capital. Their involvement and support for Famy Care have been very helpful in the company’s achievement of critical corporate milestones over the last four years. ”

EP News BureauMumbai