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2020-09-10| LicensingM&A

Mylan Set to Expand Thrombosis Business in Europe with Aspen deal

by Ruchi Jhonsa
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After announcing the megamerger deal with Pfizer’s Upjohn generics unit last year, Mylan is set for another acquisition deal expanding its portfolio in the European Union for products that prevent blood clots. Mylan, a global pharmaceutical company well known for its generics portfolio is acquiring Aspen Pharmacare Holdings Limited’s thrombosis business in Europe.

By Ruchi Jhonsa, Ph.D.

Mylan boasts of a robust portfolio of 7500 products, including biosimilars, generics, brand, and over-the-counter medicines. The acquisition bolsters the company’s existing commercial infrastructure, expands its reach in hospitals, and enhances its biosimilars franchise’s future growth in Europe. According to IQVIA, the deal will position Mylan as the second-largest supplier of thrombosis products in Europe.

Mylan is expected to close the deal before the year-end for a whopping 641 million euros or about $756 million, in line with the Upjohn deal’s closure. The company will pay Aspen 263.2 million euros upfront from the existing cash and make the remaining payment of 378.7 million euros on June 25, 2021, from the operations’ cash.

Related Article: GSK and Pfizer Enter Joint Venture with their Consumer Healthcare Businesses

Aspen’s thrombosis portfolio worth 231 million euros comprises of injectable anticoagulants under the brand names, Arixtra, Fraxiparine, Mono-Embolex, and Orgaran. According to the deal, Aspen will continue producing its products using its vertically integrated supply chain and will supply the finished products to Mylan in Europe.

While the Upjohn deal is still stuck due to pandemic related delay in regulatory affairs, Mylan is confident that deal with Aspen will not impact the payments promised to Upjohn or affect the $1 billion debt repayment this year. Mylan Executive Chairman Robert J. Coury commented: “As we continue toward the launch of Viatris, we remain committed to executing on opportunities that will not only add to Mylan’s growth, but that also will be consistent with our vision for Viatris under the Global Healthcare Gateway™, which we believe will establish the new company as a true Partner of Choice™.

Reference:

1. http://newsroom.mylan.com/2020-09-08-Mylan-to-Acquire-Aspens-Thrombosis-Business-in-Europe

2. https://www.pfizer.com/news/press-release/press-release-detail/mylan_and_upjohn_a_division_of_pfizer_to_combine_creating_a_new_champion_for_global_health_uniquely_positioned_to_fulfill_the_world_s_need_for_medicine

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