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India's foreign investment board clears Mylan's $1.6-billion acquisition of Agila

9:12 AM MDT | August 28, 2013 | Natasha Alperowicz

India’s Foreign Investment Promotion Board (New Delhi) has cleared Mylan's (Canonsburg, PA) proposal to acquire Agila Specialties (Bangalore, India), a subsidiary of pharma firm Strides Arcolab.   Mylan on 27 February announced that it had signed a definitive agreement to acquire Agila, a developer, manufacturer, and marketer of generic injectable products, from Strides for approximately $1.6 billion in cash plus contingent payments of up to $250 million subject to conditions. Mylan says it has obtained $1 billion in committed financing, which...

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