Mylan Acquires Certain Women's Healthcare Businesses From Famy Care

(RTTNews) - Generic drugmaker Mylan N.V. (MYL) said that its subsidiary, Mylan Laboratories Limited, has successfully completed the acquisition of certain women's healthcare businesses, now known as Jai Pharma, which were spun off from Famy Care Limited.

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.

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 and girls to use contraceptives by 2020."

The acquisition is expected to be immediately accretive to Mylan's adjusted diluted earnings per share. Mylan noted that its financial leverage is not materially altered as a result of this transaction.