Skadden, Arps, Slate, Meagher & Flom and Herbert Smith Freehills are serving as lead advisers on Mylan Inc.’s $1.6 billion purchase of the injectable drug unit of India’s Strides Arcolab Ltd.
Canonsburg, Pa.-based Mylan, a leading generic drugmaker, is buying Agila Specialties Private Ltd. in an all cash deal that is expected to close in the fourth quarter.
The acquisition offered Mylan the chance to expand its existing injectables product portfolio and enter new high-growth markets, the company said in a statement.
Skadden New York partners Marie Gibson and Eric Cochran, leading a team of lawyers that also includes partners in Washington, D.C., and London, are acting for Mylan on the transaction, with Slaughter and May also playing an advisory role for the company.
Herbert Smith Freehills London partner Alan Montgomery is representing Strides Arcolab. Indian firm DSK Legal served as local counsel.
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