Mylan Inc. in Talks to Buy Parts of SMS Pharma

Mylan, the second-largest US generic drug firm with annual sales of over $6 billion, is in late-stage talks with the Hyderabad-based SMS Pharma to acquire a part of its business. Sources said the US giant is keen on SMS units manufacturing lucrative cancer therapy drugs — both raw materials and finished drugs — and others. “The two companies are in the final stages of negotiations and a deal may be finalised shortly. The part of the business Mylan proposes to buy from SMS Pharma is one of the most advanced oncology facilities in the country, providing almost end-to-end solutions in cancer therapies.