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Generic drug maker Mylan Inc is acquiring injectable subsidiary of India’s Strides Arcolab for $1.6 billion (Rs.8,500 crore) in an all-cash deal to expand its presence in the fast-growing injectable drugs market.
DSK Legal acted as domestic legal counsel for Strides Arcolab while Herbert Smith Freehills acted as International Legal counsel. DSK team was led by Partners Anand Desai, Raksha Kothari and Tushar Ajinkya along with Associates Malabika Boruah, Gaurav Mistry, Prachi Garg and Karuna Thapa.
Herbert Smith Freehills team was led by London Partner Alan Montgomery.
Skadden, Arps, Slate, Meagher & Flom LLP, Slaughter and May and Platinum Partners acted as legal advisors to MyLan. Skadden New York Partners Marie Gibson and Eric Cochran led the team along with a team of lawyers that also includes Partners in Washington, D.C., and London, reports AmercanLawyer.
Platinum team was led by Partners Nihar Mody and Gautam Bhat along with Associates Soumit Mohapatra, Khusnuma Nagwaswalla, Jagriti Mohata, John Raghav and Laksmi Krishnan.
As per the agreement, Strides Arcolab will receive an additional $250 million in potential payments subject to the satisfaction of certain conditions.
The acquisition of the injectable unit Agila will create a global injectables leader, significantly expanding and strengthening Mylan’s global injectables platform and providing Mylan entry into new high-growth geographic markets, according to company press release.