MYLAN LABS BUYS MAJORITY STAKE IN MATRIX LABS

Global generics major Mylan Laboratories has announced it will acquire up to 71.5 percent of Mumbai-based API manufacturer Matrix's shares outstanding for $6.5 per share. Under the terms of the transaction, Mylan will purchase 51.5 percent of Matrix's shares outstanding pursuant to an agreement with certain selling shareholders and will make an "open offer" to Matrix's remaining shareholders to acquire up to an additional 20 percent of Matrix's shares outstanding. BioSpectrum (http://www.biospectrumasia.com/content/280806IND1451.asp)