Mylan to buy Meda in further generics consolidation

Generic pharmaceuticals company Mylan has agreed to buy Swedish firm Meda in a deal worth SEK83.6 billion (£6.9 billion) in cash, shares and assumed debt. Meda claims the move will expand the combined company’s US presence to ‘critical mass’.  This is the latest of a series of deals that have seen a significant consolidation of the generic drugs industry.

Mylan was recently involved in a three way takeover battle as it simultaneously tried to fend off a takeover bid from Israeli generics giant Teva, while making its own hostile bid for Irish drugmaker Perrigo. The bids were eventually scrapped as Teva diverted to buy the generics arm of Allergan, and Perrigo shareholders rejected the takeover deal, leading Mylan to buy back up to $1 billion of its own shares.

Related Content

Mylan expands in dermatology

18 May 2016 Business

news image

$1bn deal with Renaissance Acquisition Holdings brings 25 products and builds on Meda merger portfolio

Perrigo nabs US rights to AZ Crohn’s drug

8 December 2015 Business

news image

Irish generics maker evades Mylan takeover bid and expands gastroenterology portfolio

Most Commented

Electric choc treatment promises lower fat chocolate

22 June 2016 Research

news image

Problem of reduced fat chocolate gumming up factories’ pipelines overcome

Behind closed doors: How to win the Nobel prize

7 October 2015 Comments

news image

Bengt Norden addresses the myths and rumours surrounding the world's most prestigious science prize