Mylan acquires Indian injectables maker

PITTSBURGH — Mylan has bought a manufacturer of generic injectables for $1.6 billion, the company said.

Mylan announced the acquisition of Bangalore, India-based Agila from Strides Arcolab, which Mylan said would allow it to strengthen its injectables business and enter new markets around the world.

"The addition of Agila to our existing injectables platform will immediately create a new, powerful global leader in this fast-growing attractive market segment and accelerate our target of becoming a top-three global player in injectables," Mylan CEO Heather Bresch said. "Further, the acquisition of this unique asset delivers on several of Mylan's strategic growth drivers by further expanding and diversifying our product portfolio and geographic reach, strengthening our presence in the institutional channel and positioning us to maximize our generic biologics portfolio."