Mylan has agreed to acquire the European thrombosis business from Aspen Pharmacare Holdings for €641.9m.
Under the deal, Mylan will acquire Aspen’s portfolio that includes injectable anticoagulants marketed in Europe under the brand names and variations of the brand names such as Arixtra, Fraxiparine, Mono-Embolex and Orgaran.
These products generated combined net sales of around €231m for the 12 months ended on 30 June this year.
Mylan president Rajiv Malik said: “The acquisition of this thrombosis portfolio is a significant addition to Mylan’s European business that will not only make Mylan the second largest supplier of these products to patients in Europe, according to IQVIA, but also bolster our existing commercial infrastructure to further expand access to complex injectables.”
As per the terms of the deal, Aspen will hold manufacturing and product supply responsibilities, as well as distribute finished product to Mylan. Aspen manages a fully vertically integrated supply chain in Europe.
Subject to customary closing conditions and European regulatory clearances, the deal is expected to be completed in the fourth quarter of this year.
Mylan intends to fund an upfront payment of €263.2m to Aspen from existing cash, upon completion of the deal.
Mylan executive chairman Robert Coury said: “As we continue toward the launch of Viatris, we remain committed to executing on opportunities that will not only add to Mylan’s growth, but that also will be consistent with our vision for Viatris under the Global Healthcare Gateway, which we believe will establish the new company as a true Partner of Choice.”
In July 2019, Pfizer agreed to merge its off-patent branded and generic established medicines business Upjohn with Mylan to establish a new global pharmaceutical company.