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Mylan to buy Agila Specialties from India's Strides for $1.6 bln

Source : REUTERS
Last Updated: Wed, Feb 27, 2013 22:20 hrs

Feb 27 (Reuters) - Generic drugmaker Mylan Inc said it would buy Agila Specialties from India's Strides Arcolab Ltd for $1.6 billion to expand its injectable drugs business.

Mylan, one of the world's largest generic drugmakers with more than 1,100 products, said the acquisition is expected to immediately add to Mylan's adjusted diluted earnings per share following closing.

Mylan said the deal was unanimously approved by its board.

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