By Chelsey Dulaney
Mylan Inc. has agreed to buy certain women's health-care
businesses from India's Famy Care Ltd. for $750 million in cash, in
a move that will position Mylan as a leading provider of
contraceptives in emerging markets.
Mylan has partnered with Famy in developed markets including
North America, Europe and Australia since 2008. Mumbai-based Famy
is a producer of oral and injectable contraceptive pills and
intrauterine devices, among other items.
Under the terms of the deal, which is expected to add
immediately to Mylan's per-share earnings, Famy is eligible for an
additional $50 million in contingent payments based on the
achievement of certain development and regulatory milestones.
The deal is expected to complement Mylan's pending acquisition
of a portion of Abbott Laboratories's generics pharmaceuticals
business, which includes its women's health business.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com
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