Mylan NV (Nasdaq: MYL) will buy Renaissance Acquisition Holdings LLC’s non-strerile topicals business for up to $1 billion, including a maximum $50 million earn-out payment. Renaissance is backed by RoundTable Healthcare Partners.
The target has 50 products, with 25 of them being branded and generic, and another 25 in an active pipeline. The business produced about $370 million in sales in 2015. The sale does not include Renaissance’s sterile-focused assets.