NEW YORK (AP) — Drugmaker Mylan says it will buy Meda AB of Sweden for $7.2 billion, and says the move will help it enter new markets.
Mylan valued the deal at $9.9 billion including Meda's debt. It says Meda's board and largest shareholders support the sale.
About 60 percent of Meda's its sales come from prescription drugs. Key products include drugs that treat respiratory conditions, skin ailments, and pain and inflammation. It had 15 billion Swedish krona ($1.8 billion) in sales in 2014.
In 2015 Mylan tried and failed to buy Perrigo, an Irish company that makes medicines, vitamins, nutritional products and infant formula. Mylan itself, which is based in the Netherlands, fended off a takeover bid from Teva Pharmaceutical Industries.
Mylan stock fell 7 percent to $46.98 in aftermarket trading.