Mylan, a global pharmaceutical company based in Pittsburgh, announced Tuesday the acquisition of the related intellectual property and commercialization rights of Aspen Pharmacare Holdings Limited’s thrombosis business in Europe.
Aspen will retain manufacturing and product supply responsibilities, supplying Mylan with the finished product. Aspen’s portfolio consists of well-established injectable anticoagulants sold in Europe under the brand names, and variations of the brand names, Arixtra, Fraxiparine, Mono-Embolex, and Orgaran. The combined net sales of the products totaled more than $270 million for the 12 months ending June 30.
Mylan, following customary closing conditions and European regulatory clearances, will acquire the business for nearly $758 million, with an upfront payment of roughly $311 million to Aspen from existing cash. The final deferred payment of approximately $448 million will be due June 25, 2021.
“The acquisition of this thrombosis portfolio is a significant addition to Mylan’s European business that will not only make Mylan the second largest supplier of these products to patients in Europe, according to IQVIA, but also bolster our existing commercial infrastructure to further expand access to complex injectables,” Mylan President Rajiv Malik said. “By adding to our highly experienced sales and marketing team, we will further strengthen our current reach in hospitals and enhance the future growth of our biosimilars franchise in Europe.”
Last year, Mylan announced a merger with Pfizer’s Upjohn, which will rename the joint entity as Viatris upon completion of the merger in the fourth quarter of 2020.