Famy Care Ltd, the world’s largest contraceptive pill maker, is in talks with world’s third-largest generic drug maker Mylan Inc and some private equity funds to dilute upto 15 per cent stake. Mumbai-based Famy Care had recently signed a strategic alliance with Mylan to sell 22 women healthcare products in the US market by 2010. In 2006, US-based Mylan had acquired Hyderabad-based Matrix Laboratories for $736 million. An Indian generic drug company and other four to five global private equity funds are also in the race, reports Economic Times.
Famy Care is raising these funds for its inorganic growth and expansion in overseas markets such as Europe and the US. The company was incorporated in 1990 and is fully owned by the Taparia family.
The firm has a research and development facility at Mahape in Mumbai which has 80 employees. The firm plans to ramp up the operations in this facility and is aggressively working to increase its product range. Famy Care exports over 150 million cycles of pills annually to around 40 countries across the world. Famy Care makes various contraception products such as injectables, tubal rings and emergency contraceptives catering to a $7.5 billion global market for women reproductive health products.
Mylan has been ramping up its operations on the global stage with acquisitions. It is the third largest company in the world, behind Pfizer and Novartis. After the Matrix acquisition, Mylan acquired the generics business of Germany’s Merck KGaA for $6.8 billion, which was 70 per cent more than Mylan’s value at the time.