Mylan Buys Two Novartis' Cystic Fibrosis Products for $463 Million

By Akia Thorpe -

September 11, 2018

Mylan has purchased the worldwide rights to commercialize two of Novartis’ global cystic fibrosis products consisting of TOBI Podhaler (tobramycin inhalation powder) and TOBI solution (tobramycin inhalation solution), for approximately $463 million, to support its respiratory portfolio.

The transaction was subject to customary closing conditions, including antitrust clearances, and certain pre-closing confidentiality restrictions. Mylan’s financial disclosure related to this transaction was included in its second quarter 2018 Form 10-Q, in which the company stated that Mylan entered into the agreement on July 30, 2018, for approximately $463 million and the company expects to pay approximately $240 million in 2018.

Source: Mylan