Mylan Completes Acquisition of Bioniche Pharma (MYL)

Mylan Inc.

today announced it has completed the acquisition of Bioniche Pharma Holdings Limited sooner than anticipated. Bioniche Pharma, an injectable pharmaceutical company, is providing Mylan with immediate entry into the North American injectables market and a platform for the commercialization of future biosimilar product offerings. Mylan announced its plan to acquire Bioniche Pharma for $550 million in cash on July 14 and expects the business to be accretive in year one, without accounting for any synergies.