US drugmaker Mylan has agreed to acquire women's healthcare business of Indian drug maker Famy Care for USD 750 million. Mylan will pay Famy an additional USD 50 million as contingent payment.
The specialty women's healthcare company’s sales is estimated at Rs 400 crore. The acquisition is expected to close in the second half of calendar year 2015.
Famy Care and Mylan have a marketing partnership since 2008. Famy Care was developing and supplying oral contraceptive products to Mylan for the US market.
Famy Care plans to spin off its women’s healthcare business into a separate entity, which Mylan will acquire.
With this deal, AIF Capital will get the chance to offload its 17.5 percent stake in Famy Care to Mylan, which it had acquired in 2010 for Rs 175 crore. AIF Capital has been looking for an exit route.
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