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People & Business :: Companies

Mylan to Acquire Remaining Stake in Indian API Subsidiary for $133 million

3:53 AM MDT | March 27, 2009 | Deepti Ramesh

Mylan (Canonsburg, PA) says it plans to purchase the remaining interest in its Matrix Laboratories (Secunderabad, India) subsidiary from minority shareholders for a total of about $133 million, and also delist Matrix from the Indian stock exchanges. Mylan currently owns 71.2% of Matrix. Matrix manufactures active pharmaceutical ingredients (APIs) and finished dosage forms, and it will be delisted from the Bombay Stock Exchange, and the National Stock Exchange of India. “Purchasing the remaining interest in Matrix and delisting it from the exchanges will...

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