Mylan Wants Matrix Reloaded – Announces Delisting Plans For $133 Million
This article was originally published in PharmAsia News
Executive Summary
MUMBAI - Mylan - the third-largest generic drug maker in the world - plans to de-list its Indian subsidiary Matrix Labs from the Indian stock exchanges at a cost of $133 million. The Pittsburgh-headquartered generic drug maker has approved an indicative acquisition price of up to 150 rupees ($3 per share), reflecting a premium of 27 percent of the closing share price of Matrix on March 26. Mylan will use current cash balances to fund the additional acquisition of Matrix shares