Mylan to acquire Bioniche Pharma Holdings

Pharmaceuticals company Mylan is to acquire Bioniche Pharma Holdings for $550 million (£358 million).

Pharmaceuticals company Mylan is to acquire Bioniche Pharma Holdings for $550 million (£358 million).

Mylan is an international pharmaceuticals company based in Pennsylvania. The company has around 15,500 employees, and had sales in 2009 of $5.09 billion. The deal is subject to regulatory approval.

Mylan President Heather Bresch coments: ‘This acquisition satisfies one of our long-standing objectives of filling product and therapeutic gaps in our US portfolio.’

Ireland-based Bioniche Pharma had sales of approximately $130 million for the twelve months to May 2010, most of which were made in the US commercial marketplace. The company manufactures and sells medical products for areas including analgesics/anaesthetics and oncology.

Bioniche Pharma has over 30 marketed products, 15 applications pending approval at the US Food and Drug Administration and more than 25 additional products currently in development.

Nick Britton

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary... More by Nick Britton