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Proposal of M/s Mylan Inc., USA to acquire 100 percent of the fully paid up share capital of M/s Agila Specialities Private Limited |
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4-9-2013 | |||
The Cabinet Committee on Economic Affairs today gave its approval to the proposal of M/s Mylan Inc., USA, as recommended by FIPB, to acquire 100 percent of the fully paid up share capital of M/s. Agila Specialities Private Limited. The approval would result in foreign investment amounting to Rs.5,168 crore approximately in the country. Background: M/s. Mylan Inc., USA (Mylan), a fully integrated global pharmaceutical company, was incorporated on August 31, 1970. Along with its subsidiaries, it develops licenses, manufactures, market and distributes generic, branded and specialty pharmaceuticals. It is a publicly held Corporation, listed on the NASDAQ. Mylan has a presence in India through its subsidiaries, M/s. Myland Laboratories Limited, M/s. Mylan Pharmaceuticals Private Limited and M/s. Astrix Laboratories Limited. |
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