Mylan to Acquire Bioniche Injectable Business

Mylan, Inc. has plans to acquire Bioniche Pharma Holdings Ltd., a global injectable pharmaceutical company, for $550 million in cash. Bioniche Pharma will provide Mylan with immediate entry into the North American injectables market, as well as a platform for future growth opportunities.

Mylan chairman and chief executive officer Robert J. Coury said: “We are extremely pleased to be adding this complementary, high growth, high margin business to our one-of-a-kind global pharmaceutical platform. Bioniche Pharma has maintained a long-held strategy of focusing on quality injectable products with limited competition and difficult-to-develop and -manufacture compositions. With this one transaction, we will have acquired the necessary critical mass to compete in the attractive U.S. injectables market as well as the ability to even further leverage this business throughout the rest of our global commercial platform.”

Mylan president Heather Bresch commented: “This acquisition satisfies one of our long-standing objectives of filling product and therapeutic gaps in our U.S. portfolio. Bioniche Pharma injectables and Mylan’s U.S. offerings – including Mylan Pharmaceuticals’ extensive solid-dose portfolio; Mylan Technologies’ innovative transdermal technologies, such as Fentanyl Transdermal System; and UDL Laboratories’ well-established distribution channel – are expected to position Mylan as a leader in the U.S. institutional marketplace.”