The exact value of the deal is unknown but Mylan is
likely to pay a "significant" premium to Meda's market value, a
person familiar with the matter told the Financial Times.
Meda's market valuation stood at 29.5 billion Swedish krona ($4.5
billion) at the end of trading on Thursday while Mylan's market
value was $18.5 billion.
Pennsylvania-based Mylan has appointed advisers to help it put
together a deal for Meda, people familiar with the matter told the
Financial Times. (http://link.reuters.com/veb38v)
Generic drugs continues to be a hotly contested sector with Mylan
suing Celgene Corp on Thursday to stop the latter's effort to keep
generic versions of two drugs that generate $4.5 billion of annual
sales off the market.
Last year, Mylan bought Agila, a unit of India's Strides Arcolab
Ltd, for $1.6 billion to expand its presence in the fast-growing
generic injectable drugs market.
[to top of second column]
Mylan's Nasdaq-listed shares closed down about 2 percent at $49.86
Officials for Mylan and Meda were not immediately available to
comment on the FT report.
(Reporting by Shubhankar Chakravorty in Bangalore; editing by Andrew
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