CANONSBURG (dpa-AFX) - Mylan Inc. (MYL) Wednesday announced that its subsidiary Mylan Ireland Limited has entered into an agreement to acquire the U.S. commercialization, marketing and intellectual property rights relating to Arixtra (fondaparinux sodium) Injection and the authorized generic or AG of Arixtra from Aspen Global Inc.
Mylan will pay Aspen $225 million upon completion of the transaction. An additional $75 million will be held in escrow and released upon satisfaction of certain conditions.
Aspen will supply Arixtra and the AG of Arixtra to Mylan, subject to certain terms and conditions. The transaction will be immediately accretive to Mylan's adjusted earnings.
Arixtra and the AG of Arixtra had U.S. sales of approximately $18.8 million and $95.3 million, respectively, for the 12 months ending June 30, according to IMS Health.
Arixtra is indicated for the prophylaxis of deep vein thrombosis, which may lead to pulmonary embolism in patients undergoing hip fracture surgery, including extended prophylaxis, hip replacement surgery, knee replacement surgery or abdominal surgery who are at risk for thromboembolic complications.
Mylan already is selling Arixtra in the U.S. through an interim distribution arrangement with Aspen and Apotex is currently selling the AG of Arixtra, which will transition to Mylan Institutional by year end.
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