Mylan to buy injectable drugs unit of Strides for $1.6 billion

Strides Arcolab Limited today announced that it has entered into a definitive agreement for the sale of its specialties subsidiary, Agila Specialties Private Limited, to US-based Mylan Inc  thus  ending  months of speculation regarding its sale, with reports suggesting Pfizer and Japan's Otsuka Holdings as other potential buyers.

Under the terms of the agreement, Strides and its subsidiary will receive an aggregate sum of $1.6 billion in cash on closing and a potential additional milestone payment of $ 250 M subject to the satisfaction of certain conditions by Strides.


This  deal will help Mylan, one of the world's largest generic drugmakers, to double its injectable drugs portfolio in combined  to more than 700 marketed injectables products and a global pipeline of more than 350 injectables products pending approval.

Media reports

Indian Regulator sets deadline for drug launches

Pharmaceutical companies will have to launch drugs within six months of getting approval from the drug regulator, failing which they could lose the manufacturing license.   According to the Indian Drugs and Cosmetics Act, for any new drug, pharmaceutical firms should file a periodic safety update report (PSUR) every six months, for the first two years and  once in a year for the subsequent two years.  This enables authorities to monitor the safety and efficacy of a new drug in a post-marketing scenario for four years, after which it no longer remains a new drug.

“It has been decided in public interest that in case an applicant/manufacturer fails to launch the product for marketing in the country within a period of six months from obtaining the permission or license, the permission/licence will be treated as cancelled,” said the DCGI