Mylan closes Bioniche acquisition
PITTSBURGH Generic drug maker Mylan has managed to snag Bioniche Pharma Holdings sooner than expected, Mylan said Tuesday. Mylan had announced its plans to buy Bioniche for $550 million in July.
Bioniche manufactures injectable pharmaceuticals, and Mylan said the acquisition would give it immediate entry into the North American market for injectables. It also announced the creation of Mylan Institutional, tailored to such healthcare institutions as hospitals, prisons, home infusion service companies and specialty pharmacies, combining Bioniche’s product line with that of UDL Labs, Mylan’s unit-dose business.
“Mylan Institutional will include, among other offerings, Bioniche Pharma’s diverse portfolio of products across several therapeutic areas for the hospital setting, including analgesics [and] anesthetics, orthopedics, oncology and urology,” Mylan president Heather Bresch said in a statement.