 "Famy Care’s Ahmedabad plant")
US pharma major has completed its $750 million acquisition of female healthcare business of Famy Care.
The deal will allow Mylan to tap into the female contraceptive and healthcare segment in India. The deal was announced in February and it received a clearance from Cabinet Committee of Economic Affairs (CCEA) earlier this month.
The transaction brings Mylan a broad women's care portfolio, strong technical capabilities and dedicated hormone manufacturing, which, when combined with Mylan's expansive global commercial footprint and supply chain infrastructure, will create a leading women's healthcare franchise, the company announced today.
Mylan CEO Heather Bresch said "We look forward to building upon our existing commercial presence in emerging markets by leveraging our global supply chain and operational excellence to further accelerate our growth. This will include building upon our existing women's care portfolio in India and expanding our reach in support of Family Planning 2020, a global partnership that aims to enable 120 million more women an girls to use contraceptives by 2020.
Mylan, among the top five generic companies globally, has been expanding its presence in India for a while. It entered India in 2007, with a $730-million buyout of Matrix Laboratories. In 2013, it acquired the specialty injectables unit of Bengaluru-based Strides Arcolab for $1.75 billion.
Mylan and Famy Care have an exclusive partnership dating back to 2008, under which Famy Care develops and supplies over-the-counter (OTC) drugs to Mylan for distribution to customers in the US and a few other markets. In the US, Famy Care and Mylan have a portfolio of 12 approved products, with abbreviated new drug applications (ANDA) for 30 drugs pending the approval of the Food and Drug Administration (FDA).
Started in 1990 by Jyotiprasad Taparia, Famy Care is the third-largest maker of over-the-counter contraceptive pills and injectables and the largest producer of copper-Ts globally. Other major products from the company include rings for tubal ligation and condoms. Famy Care recorded a revenue of Rs 400 crore last year.
