Mylan on Sept. 8 signed a deal to acquire South African drugmaker Aspen Pharmacare's thrombosis business in Europe for $757 million.
The Canonsburg, Pa.-based drugmaker will gain rights for Aspen's injectable anticoagulants sold in Europe under the brand names Arixtra, Fraxiparine, Mono-Embolex and Orgaran. These treatments produced nearly $273 million in combined net sales during the 12 months that ended June 30.
Mylan will pay Aspen $311 million upfront in cash and plans to make a final deferred payment of $447 million on June 25, 2021. The sale is expected to close before the end of 2020.
"The acquisition of this thrombosis portfolio is a significant addition to Mylan's European business that will not only make Mylan the second largest supplier of these products to patients in Europe, according to IQVIA, but also bolster our existing commercial infrastructure to further expand access to complex injectables," Mylan President Rajiv Malik said in a news release. "By adding to our highly experienced sales and marketing team, we will further strengthen our current reach in hospitals and enhance the future growth of our biosimilars franchise in Europe."