Mylan in exclusive talks to buy Strides Arcolab’s injectables unit

Three highly placed sources have shared that Strides Arcolab and Mylan are in exclusive talks for the deal on Strides’ injectables unit, Agila Specialties. Sources have indicated that Mylan’s offer is close to $2 billion. The exclusivity period is short-term in nature and the senior officials of Mylan have been visiting India frequently for the negotiations.

Pfizer had been in advanced talks with Strides Arcolab for the deal at $1.88 billion, but the talks have stalled on valuation mismatch between the buyer and the seller. However, Pfizer and Novartis are still in the fray for the deal.

Strides Arcolab has declined to offer comment on the development. Mylan did not respond to an e-mail query sent on the same.