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.