India cabinet approves Mylan's deal to buy Strides unit: minister
NEW DELHI (Reuters) - India's cabinet on Tuesday approved Mylan Inc's (MYL.O) deal to buy a unit of Strides Arcolab Ltd (STAR.NS), Information and Broadcasting Minister Manish Tewari said, paving the way for closure of the long-pending transaction.
Mylan, one of the world's largest generic drugmakers, in February agreed to buy the Strides unit, Agila Specialities, for $1.6 billion to expand its presence in the fast-growing injectable drugs market.
(Reporting by Nigam Prusty)
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