Mylan Buys Novartis’ CF Products for $463 Million
The purchase of Novartis’ cystic fibrosis products TOBI Podhaler and TOBI solution is expected to strengthen Mylan’s global respiratory portfolio.
On Sept. 6, 2018, Mylan announced that it closed an agreement with Novartis to purchase the worldwide rights to commercialize Novartis’ cystic fibrosis products TOBI Podhaler (tobramycin inhalation powder) and TOBI (tobramycin solution for inhalation) on Aug. 31, 2018 for $463 million.
Mylan expects to pay approximately $240 million of the total price in 2018. The transaction was subject to customary closing conditions, including antitrust clearances, and certain pre-closing confidentiality restrictions. Mylan states that the transaction will further enhance its respiratory portfolio in the United States, Europe, and other global markets.
This deal is one in a series of recent transactions by Novartis, including the company’s September 2018 selling of its Sandoz US dermatology business and generic US oral solids portfolio to generic pharmaceutical company Aurobindo Pharma USA for $1 billion.
Source: Mylan
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