Strides Arcolab agrees to receive $150 million as final settlement from Mylan

Strides Arcolab has agreed to receive an amount of $150 million from Mylan Inc., USA as the full and final settlement against the Contingent Holdback of upto $250 million.

Earlier in December 2013, Strides Arcolab completed the sale of its injectables business, Agila Specialties, to Mylan for $1.75 billion, but $250 million of that had been held back by Mylan until certain regulatory conditions related to an injectables facility in India are satisfied.

Strides Arcolab is a global pharmaceutical company headquartered in Bangalore, India that develops and manufactures wide range of IP-lead niche pharmaceutical products with an emphasis on sterile injectables.