M&A M&A
Viatris buys ophthalmology drugs biz of Famy Life Sciences for $300-M
Source Economic Times (opens in a new tab)Press Release (opens in a new tab)
Pittsburg, PA (USA)-based Viatris Inc. (formerly Mylan Labs) has agreed to acquire Ahmedabad-based, eyecare (ophthalmology) drugs focused Famy Life Sciences business for a total cash payout of around INR 2,460 crore (USD 300 million). The ophthalmology portfolio of the target company consists of six new chemical entities (NCEs or molecules) that are under phase 3 trials
Famy's promoters - the Taparia family - will retain the non-ophthalmic business by spinning it out into a new entity, Famy Pharma.
Company website ↗ (opens in a new tab)
From the Venture Intelligence M&A Deals Database: In Feb-2015, the Taparia Group had sold Famy Care - which was focused on women's healthcare products - to Mylan for USD 800 million. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)