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EU: Mylan purchase of Abbot generics approved

By  |  January 28, 2015

The European Commission approved on Wednesday the acquisition of Abbot Laboratories by the U.S. based producer of generic pharmaceuticals Mylan Inc, subject to conditions.

“The decision is conditional upon the divestment of a number of Mylan’s businesses in Germany, the United Kingdom, France,Ireland and Italy,” the Commission said.

Generic drugmaker Mylan Inc agreed in July to buy Abbott’s branded specialty and generics business in developed markets outside the United States in a $5.3 billion deal that will bolster its product line and also cut its tax bill.

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