$1bn deal with Renaissance Acquisition Holdings brings 25 products and builds on Meda merger portfolio

Generics heavyweight Mylan has agreed to buy a clutch of dermatology drugs from private investment firm Renaissance Acquisition Holdings. The $1 billion (£690 million) cash deal gives Mylan Renaissance’s entire non-sterile, topicals-focused speciality and generics business, including ~25 existing products, a further ~25 in the pipeline, plus the associated manufacturing facilities and around 1200 employees.

This is Mylan’s second ‘bolt-on’ acquisition since its failed attempt to buy rival Perrigo. Chief executive Heather Bresch described the business as ‘highly complementary to Mylan’s existing assets’ as well as those the firm will bring in from its pending acquisition of Meda.