- Biopharma News
Mylan to acquire Aspen's thrombosis business in Europe8 Sep 2020
The transaction will further complement and expand Mylan's complex injectables offering and presence in hospitals.
Mylan has agreed to acquire the related intellectual property and commercialization rights of Aspen Pharmacare Holdings Limited's thrombosis business in Europe for EUR 641.9 million.
The portfolio consists of well-established injectable anticoagulants sold in Europe under the brand names, and variations of the brand names, Arixtra, Fraxiparine, Mono-Embolex and Orgaran.
These products had combined net sales of approximately EUR 231 million for the 12 months ended 30 June 2020.
According to Mylan President, Rajiv Malik, the acquisition will make Mylan the second largest supplier of these products to patients in Europe. It will also bolster the company's existing commercial infrastructure to further expand access to complex injectables.
He said: "By adding to our highly experienced sales and marketing team, we will further strengthen our current reach in hospitals and enhance the future growth of our biosimilars franchise in Europe."
Mylan Executive Chairman Robert J. Coury commented: "As we continue toward the launch of Viatris, we remain committed to executing on opportunities that will not only add to Mylan's growth, but that also will be consistent with our vision for Viatris under the Global Healthcare Gateway, which we believe will establish the new company as a true Partner of Choice."
Viatris is the chosen company name for the merger between Mylan and Pfizer's Upjohn.
Aspen will retain manufacturing and product supply responsibilities and will supply Mylan with finished product.
Upon closing of the transaction, which is expected to be completed before 31 December 2020, Mylan expects to fund an upfront payment of EUR 263.2 million to Aspen and to make the final deferred payment of EUR 378.7 million on 25 June 2021.
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