Mylan To Acquire Aspen’s Thrombosis Business in Europe for $759 MBy
Mylan has agreed to acquire the related intellectual property and commercialization rights of the European thrombosis business of Aspen Pharmacare Holdings Limited, a Durban, South Africa-based pharmaceutical company, for EUR 641.9 million ($759 million).
The portfolio consists of injectable anticoagulants sold in Europe under the brand names and variations of the brand names of Arixtra (fondaparinux), Fraxiparine (nadroparin), Mono-Embolex (certoparin), and Orgaran (danaparoid). These products had combined net sales of approximately EUR 231 million ($278 million) for the 12 months ended June 30, 2020. Aspen will retain manufacturing and product-supply responsibilities and will supply Mylan with finished product. Aspen has a vertically integrated supply chain predominantly located in Europe.
Upon closing of the transaction, Mylan will make an upfront payment of EUR 263.2 million ($311 million) to Aspen and a final deferred payment of EUR 378.7 million ($448 million) on June 25, 2021. The closing of the proposed sale is expected to be completed before December 31, 2020, subject to customary closing conditions and European regulatory clearances. Mylan also expects to close its proposed combination with Upjohn, Pfizer’s off-patent branded and generic established medicines business, in the fourth quarter of 2020. With the closing of the deal with Pfizer, the new name of the combined company will be Viatris.