Mylan Announces Meda Purchase for $7.2B

Generics giant Mylan N.V. has struck a tentative deal to purchase Swedish drugmaker Meda AB for $7.2 billion in cash and stock.

The proposed merger still requires approval from U.S. and European regulators, according to Mylan.

If the deal goes through, the combined company would be worth roughly $3.8 billion in gross annual sales and hold the rights to about 2,000 products. While most of Mylan’s products are generics and specialty drugs, Meda has a more diverse portfolio, with branded product lines in dermatology, respiratory, inflammation and OTC.