US group Mylan has inked a deal to snap up the female healthcare segment of India’s Famy Care for $750 million in cash and additional contingent payments of up to $50 million.
The transaction complements the firm’s pending acquisition of Abbott's non-US specialty and branded generics business, and will make Mylan a hormonal contraceptives leader in high-growth emerging markets around the world, it said.
The acquisition is expected to be immediately accretive to Mylan's adjusted diluted earnings per share and growth profile upon closing, which is pencilled for the second half of 2015, subject to regulatory approvals and certain closing conditions.
Separately, Mylan also announced a partnership with Theravance Biopharma to develop and, subject to US approval, commercialise TD-4208, an investigational once-daily nebulized long-acting muscarinic antagonist (LAMA) for chronic obstructive pulmonary disease and other respiratory diseases.
Phase III trials this year
According to the firms, TD-4208 has shown positive top-line results in COPD patients in multiple Phase II studies, and they note that the US Food and Drug Administration recently agreed to the design of the Phase III registrational program, which is anticipated to begin this year.
The alliance leverages Mylan's expertise in manufacturing and marketing complex respiratory products and Theravance's respiratory clinical development capabilities, said Mylan chief executive Heather Bresch, also noting that the addition of TD-4208 is “highly complementary” with Mylan’s existing respiratory portfolio.
In addition to funding the US registrational development program, Mylan will pay Theravance an initial payment of $15 million in cash and will make a $30 million equity investment in the group. Theravance is also eligible to receive potential development and sales milestone payments totalling $220 million in the aggregate, with $175 million associated with TD-4208 monotherapy and $45 million for future potential combination products.