mylan_building

Mylan to buy Renaissance’s dermatology business for up to $1 billion

pharmafile | May 16, 2016 | News story | Research and Development, Sales and Marketing Mylan, generics, merger and acquisition 

Generics maker Mylan (Nasdaq: MYL) has agreed to buy skincare products from Renaissance Acquisition Holdings for up to $1 billion.

The deal includes $950 million in cash and an additional contingent payment of up to $50 million, the company said in a statement.

Mylan chief executive Heather Bresch said: “The dermatology/ topicals space has long been an area of focus for Mylan and one that we have targeted for expansion. This is a strong and growing business in a very attractive category, which is highly complementary to Mylan’s existing assets and the pending addition of the Meda dermatology portfolio.”

The acquisition will not require any additional financing and has been accounted for in the anticipated capital structure, the company said in a statement.  

The dermatological assets business reported about $370 million in revenue for 2015.

Anjali Shukla

Related Content

Pfizer to pay $345 million in EpiPen lawsuit

Pfizer has reached a $345 million settlement over consumer claims they overpaid for EpiPens as …

800px-mono-embolex_by_danny_s

Mylan reaches agreement with Aspen for their European thrombosis business

Mylan has announced an agreement to acquire the intellectual property and commercialisation rights to Aspen’s …

biogen-idec-tecfidera-dimethyl-fumarate

Mylan secures first FDA approval for generic version of Biogen’s Tecfidera following patent dispute

The FDA has approved its first generic of Biogen’s multiple sclerosis (MS) treatment Tecfidera, awarding …

Latest content