Hertfordshire, England-based Mylan — one of the largest generics and specialty pharmaceutical companies in the world, with U.S. headquarters in Pittsburgh — acquired Meda pharmaceuticals.
Under the acquisition, Solna, Sweden-based Meda became a controlled subsidiary of Mylan. Mylan President Rajiv Malik said the acquisition will expand its over-the-counter business by $1 billion and will help the company expand into China, Southeast Asia, Russia and Middle East markets.
"This transaction also is extremely compelling financially, providing significant accretion to Mylan's adjusted earnings per share, the opportunity for substantial synergies and further acceleration of our growth," Mylan CEO Heather Bresch said in a statement.
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