Mylan has purchased the worldwide rights to commercialize two of Novartis’ global cystic fibrosis products consisting of TOBI Podhaler (tobramycin inhalation powder) and TOBI solution (tobramycin inhalation solution), for approximately $463 million, to support its respiratory portfolio.

The transaction was subject to customary closing conditions, including antitrust clearances, and certain pre-closing confidentiality restrictions. Mylan’s financial disclosure related to this transaction was included in its second quarter 2018 Form 10-Q, in which the company stated that Mylan entered into the agreement on July 30, 2018, for approximately $463 million and the company expects to pay approximately $240 million in 2018.

Source: Mylan