Mylan announces that it has experienced a loss due to acquisition costs of Merk's generics division.
After a continuous fall since May of 2007 following the acquisition of Merck's generics division, many firms believed that Mylan had hit its low and was time to buy.
Mylan Laboratories announced that is has completed its acquisition of the generic- drugs unit of Germany's Merck KGaA (not affiliated with the U.S. drug maker Merck & Co) for $6.8 billion.
This acquisition of Merck KGaA's generic-drug business more than doubled Mylan's revenue and tripled Mylan's size.
Mylan Laboratories announced that its subsidiary Mylan Pharmaceuticals received a tentative approval from the U.S. FDA for Topiramate Capsules. Topiramate Capsule is the basic version of Ortho McNeil Pharmaceuticals' Topamax Sprinkle Capsules.
Mylan announces plans of acquisition of Merck's generic division for nearly $7 billion.