Mylan To Buy Aspen's Thrombosis Business In Europe For EUR 641.9 Mln

(RTTNews) - Mylan N.V. (MYL), on Tuesday, said it agreed to acquire the related intellectual property and commercialization rights of Aspen Pharmacare Holdings Ltd.'s thrombosis business in Europe for EUR 641.9 million, subject to customary closing conditions and European regulatory clearances.

Upon completion, the transaction is expected to be immediately accretive to Mylan, and is anticipated to be accretive to VIATRISTM upon the completion of Mylan's previously announced combination with Upjohn that is expected to close in the fourth quarter of 2020.

Mylan noted that it expects to fund an upfront payment of EUR 263.2 million to Aspen from existing cash, upon closing. Also, Mylan expects to utilize cash generated from operations to make the final deferred payment of EUR 378.7 million on June 25, 2021.

The proposed sale is expected to be completed before December 31, 2020. Further, Mylan stated that it does not expect the transaction to impact its target of about $1 billion of 2020 debt repayments or Viatris' previously announced debt repayment and leverage target commitments.