Mylan's Acquisition of Matrix
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Case Details:
Case Code : BSTR279 Case Length : 20 Pages Period : 2005-2007 Pub Date : 2008 Teaching Note :Not Available Organization : Mylan, Inc./ Matrix Laboratories Ltd. Industry : Pharmaceutical Countries : USA; India; Global
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Excerpts Contd...
The Other View
Though overall, the deal was expected to be a win-win
proposition for both the parties, analysts were cautious about the long-term
sustainability of Matrix's existing supply chain arrangements with other US
generic players who would now become its direct competitors.
Further, as Matrix had already been the second largest API supplier to Mylan
since 2003, transfer pricing of drugs between Mylan and Matrix was also expected
to be an issue of concern which would affect the potential top-line synergies
expected from this deal in the near term...
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Post Deal Developments
After the deal was completed, Coury and Prasad were appointed
as the Non-executive Chairman and Non-executive Vice Chairman of the board of
Matrix respectively. Mylan also established its Asian headquarters in Singapore
for Prasad and his team. It was decided that Rajiv Malik (Malik) would continue
to head Matrix, while Stijn Van Rompay, the co-founder of Docpharma, would
continue to manage Docpharma...
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Outlook
The acquisition of Matrix helped Mylan to expand beyond the US market
and establish a global presence with 5100 employees in 10 countries.
This deal was a landmark one, suggesting that Indian generic drug makers
with FDA approved plants, a strong product pipeline, and a low-cost and
robust manufacturing base were attractive takeover targets for global
generic makers. Some analysts also expected Mylan's acquisition of
Matrix to trigger more such M&A deals in the Indian pharmaceutical
industry... |
Exhibits
Exhibit I: Mylan: A Timeline Exhibit II: A Note on the Global Generic Drug Industry Exhibit III: Selected Financial Data of Mylan Inc. Exhibit IV: Value Added by the Respective Companies to the Merged Entity
(Matrix) Exhibit V: Matrix: A Timeline Exhibit VI: Contribution of Matrix's Business Segments Exhibit VII: Matrix Laboratories Ltd. Financial for Fiscal 2006- 07 Exhibit VIII: A Note on the Indian Pharmaceutical Industry Exhibit IX: Shareholding Pattern of Matrix
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