Mylan to acquire Bioniche injectables business
Provides entry into North American injectables market
Mylan is to buy Bioniche Pharma Holdings, a global injectable pharmaceutical company based in Galway, Ireland for US$550m.
The acquisition gives Mylan an immediate entry into the North American injectables market and provides a platform for future growth.
Mylan chairman and ceo Robert Coury said: ‘With this one transaction, we will have acquired the necessary critical mass to compete in the attractive US injectables market as well as the ability to even further leverage this business throughout the rest of our global commercial platform.’
The combination of Bioniche with Mylan’s unit dose business, UDL Laboratories, will lead to the formation of Mylan Institutional, a new hospital/institutional business in the North American region of the company’s generics business.
This business will serve group purchasing organisations, wholesalers, hospitals, surgical and radiology services, home infusion and retail areas with a differentiated and tailored product offering.
Mylan President Heather Bresch added: ‘This acquisition satisfies one of our long-standing objectives of filling product and therapeutic gaps in our US portfolio.
‘Bioniche Pharma injectables and Mylan's US 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 US institutional marketplace.’
Bresch said Bioniche Pharma will also ‘fill an important prerequisite toward the viability of the commercialisation of Mylan's own generic biologics platform in the near future.’
Bioniche Pharma had approximately US$130m in net revenue for the 12 months to 31 May. Most of these sales were derived in the US market.
The closing of this transaction is expected to occur within 60 days.
