Mylan N.V. announced Wednesday a deal to buy Swedish specialty pharmaceutical company Meda Aktiebolag in a cash and stock deal valued at the U.S. dollar equivalent of $7.2 billion, or $9.9 billion including debt. Mylan expects the deal to add to earnings immediately after it is completed, with an opportunity to increase earnings per share by 35 cents to 40 cents in 2017. Mylan expects synergies of about $350 million, to be achieved in the fourth year following completion, which is expected to be in the third quarter of 2016. "Our acquisition of Meda will allow us to accelerate and deliver on the clear and compelling vision and strategy we have continuously communicated to our shareholders, and once again deliver a transaction that will create significant value," said Mylan Chief Executive Robert Coury. "We structured this transaction in a way that optimizes our balance sheet and still leaves us ample financial flexibility to continue to complement our business with additional attractive opportunities." Separately, Mylan reported full-year 2015 adjusted earnings per share and revenue that fell short of FactSet consensus estimates. The stock slumped 7% in after-hours trade.
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