Haynes and Boone Advises in $1.6B Sale of Generic Drug Maker

03/05/2013


A team of Haynes and Boone, LLP lawyers served as U.S. counsel to Strides Arcolab Ltd. in its $1.6 billion sale of Agila Specialties Private Ltd., a generic drug maker of injectable medicines, to Mylan Inc., the second largest stand-alone generic drug maker.

The Haynes and Boone deal team was led by Washington, D.C.-based Partner, Jeff Wolfson, New York Partner Lou Solomon, Dallas partners Vicki Martin-Odette and Eric Williams, and New York Associate Alex Grishman. Of Counsel Evert Tu and Associate Chris Perez also assisted in the transaction.

Mylan will pay Agila’s parent company, Strides, $1.6 billion in cash and an additional $250 million if Strides satisfies certain deal conditions. The sale allows Mylan access to a complementary injectable drug portfolio and emerging markets worldwide. The deal is subject to the U.S. and Indian regulatory approvals and is slated to close in the fourth quarter of 2013.

Strides was also represented by lead international counsel Herbert Smiths Freehills LLP, DSK Legal in India, Pinheiro Neto Advogados in Brazil, and other local counsel, with Jefferies International Limited serving as financial adviser.

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