US approves Mylan's purchase of Strides unit, with conditions

Reuters

WASHINGTON (Reuters) - Generic drugmaker Mylan Inc (NSQ:MYL - News) has won U.S. antitrust approval, with conditions, to buy Agila, a unit of India's Strides Arcolab Ltd (NSI:STAR.NS - News), the Federal Trade Commission said on Thursday.

The companies will have to divest 11 generic injectable drugs as a condition of approving the deal, the FTC said.

The deal was valued at $1.6 billion when it was announced in February.

(Reporting by Diane Bartz; Editing by Gary Hill)

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