And Indian government approves takeover of Agila Specialties for US$1.6bn
Mylan, a US-based transdermal drug delivery specialist, has completed an 85,000ft2 (8,000m2), three-storey expansion project at its transdermal patch facility in St. Albans, Vermont.
Although not specific about the actual investment, Mylan says it included funding for expanded research and development (R&D) capabilities and additional manufacturing and laboratory space. As a result the company is in the process of adding more than 160 new jobs at the plant, which is operated by Mylan Technologies.
Heather Bresch, CEO of Mylan, said: 'Mylan's investment in the ongoing growth of our transdermal franchise demonstrates our continued commitment to and confidence in our ability to provide complex generic and interchangeable, products and innovative delivery alternatives, such as transdermals.
'Through this expansion, MTI will continue to play a critical role in the expansion and diversification of Mylan's global product portfolio, especially when it comes to difficult-to-develop and manufacture products.'
The expansion project has taken 14 months to complete and has increased Mylan's total operating space to more than 391,000ft2 (36,000m2).
The facility in St Albans has been part of Mylan's manufacturing network for more than 20 years, when it bought the plant from Bertek Labelling for US$39m.
Mylan has since developed a number of branded and generic transdermal products available in markets around the world, including the US, Canada, Europe, Japan, New Zealand and Australia.
In a separate announcement, Mylan said the Indian government has given the go-ahead for the firm's acquisition of Indian vaccine and injectable drugmaker Agila Specialties for $1.6bn.
The deal is expected to close in the fourth quarter of 2013, subject to remaining regulatory approvals.
Mylan announced in February that it would buy Agila, a business unit of Bangalore-based Strides Arcolabs, which has nine manufacturing facilities in India, Poland and Brazil, eight of which are approved by the US Food and Drug Administration.
Bresch said the acquisition would 'establish Mylan as a global injectables leader, with a significantly expanded and strengthened injectables portfolio, pipeline, platform and capabilities.'
The transaction will also enable Mylan to expand into new geographical regions.