PITTSBURGH, Sept. 10, 2014 /PRNewswire/ -- Mylan Inc.
(Nasdaq: MYL) today announced that its subsidiary Mylan Ireland
Limited has entered into an agreement to acquire the U.S.
commercialization, marketing and intellectual property rights
relating to Arixtra® (fondaparinux sodium) Injection and the
authorized generic (AG) of Arixtra from Aspen Global Incorporated.
Arixtra is indicated for the prophylaxis of deep vein thrombosis
(DVT), which may lead to pulmonary embolism (PE) in patients
undergoing hip fracture surgery, including extended prophylaxis,
hip replacement surgery, knee replacement surgery or abdominal
surgery who are at risk for thromboembolic complications. Mylan
already is selling Arixtra in the U.S. through an interim
distribution arrangement with Aspen and Apotex is currently selling the AG
of Arixtra, which will be transitioning to Mylan Institutional by
year end.
Mylan CEO Heather Bresch
commented, "DVT/PE is a serious health concern that is estimated to
affect up to 600,000 people in the U.S.1 The addition of
Arixtra is an attractive opportunity to broaden the range of
therapeutic categories we market in the U.S., in both the hospital
and retail settings, and bolster our growing portfolio of complex
injectables to better meet our customers' needs."
Mylan will pay Aspen
$225 million upon completion of the
transaction. An additional $75
million will be held in escrow and released upon
satisfaction of certain conditions. Aspen will supply Arixtra and the AG of
Arixtra to Mylan, subject to certain terms and conditions. The
transaction is subject to regulatory clearances. All other terms of
the agreement remain confidential. The transaction will be
immediately accretive to Mylan's adjusted earnings.
Arixtra and the AG of Arixtra had U.S. sales of approximately
$18.8 million and $95.3 million, respectively, for the 12 months
ending June 30, 2014, according to
IMS Health.
This press release includes statements that constitute
"forward-looking statements," including with regard to the
company's strategy, future growth and performance. These statements
are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Because such statements
inherently involve risks and uncertainties, actual future results
may differ materially from those expressed or implied by such
forward-looking statements. Factors that could cause or contribute
to such differences include, but are not limited to: the impacts of
competition; changes in economic and financial conditions of the
company's business; uncertainties and matters beyond the control of
management; and the other risks detailed in the company's filings
with the Securities and Exchange Commission. The company undertakes
no obligation to update these statements for revisions or changes
after the date of this release.
Mylan is a global pharmaceutical company committed to setting
new standards in health care. Working together around the world to
provide 7 billion people access to high quality medicine, we
innovate to satisfy unmet needs; make reliability and service
excellence a habit; do what's right, not what's easy; and impact
the future through passionate global leadership. We offer a growing
portfolio of more than 1,300 generic pharmaceuticals and several
brand medications. In addition, we offer a wide range of
antiretroviral therapies, upon which approximately 40% of HIV/AIDS
patients in developing countries depend. We also operate one of the
largest active pharmaceutical ingredient manufacturers and
currently market products in approximately 140 countries and
territories. Our workforce of more than 20,000 people is dedicated
to improving the customer experience and increasing pharmaceutical
access to consumers around the world. But don't take our word for
it. See for yourself. See inside. mylan.com
References:
- Centers for Disease Control and Prevention. Deep Vein
Thrombosis (DVT) / Pulmonary Embolism (PE) — Blood Clot Forming in
a Vein, Data & Statistics.
http://www.cdc.gov/ncbddd/dvt/data.html. Accessed on Sept. 2, 2014.
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SOURCE Mylan Inc.