AIF Capital is pleased to announce the successful completion of the trade sale process for Famy Care Limited (“Famy”), an AIF Capital Asia III portfolio company.
U.S. Fortune 500 and global pharmaceutical major, Mylan Inc. (“Mylan”) entered into a definitive agreement on 2nd February 2015 to acquire 100% of Famy for a total consideration of US$750 million in cash and additional contingent payments of up to US$50 million. The successful transaction is the culmination of growing Famy from a tender-based emerging markets business to one that is focused on semi-regulated markets of the U.S. and Europe.
“AIF Capital is privileged to have the opportunity to be a contributing partner to Famy’s corporate journey in transitioning from a family-owned business into a meaningful institutional player in the global pharmaceutical industry,” said Peter Amour, CEO of AIF Capital.
Since AIF Capital’s investment in 2010, Famy has achieved increasing contribution from high-margin developed markets, filed 43 ANDAs (abbreviated new drug application) with the U.S. FDA and received 12 FDA approvals.
About Famy – Famy is the world’s largest manufacturer of generic oral contraceptive pills. Its multiple facilities in Gujarat are WHO-GMP certified and approved by the U.S. FDA. To date, the company has over 550 product registrations across 90 countries and a pipeline of approximately 240 filings in more than 65 countries, including more than 140 products for the developed markets. For more information, please visit: www.famycare.com