Acquisition of residual holding in MCHEM GROUP OF COMPANIES, CHINA Thursday, 24th January, 2008

Matrix Laboratories Limited, through its wholly owned subsidiary had, earlier, executed definitive agreements with the erstwhile promoter of MChem group of companies, China to acquire his residual shareholding in MChem group of companies. Consequent upon the receipt of the applicable approvals, the transaction for purchase of the residual stake has been completed. With the purchase of the residual stake, the effective holding of Matrix Laboratories Limited in MChem group of companies, through its wholly owned subsidiary, stands at 97%.

MChem manufactures a number of intermediates and Active Pharmaceutical Ingredients (APIs). Therefore, the acquisition of the residual stake of erstwhile promoter is strategic for enhancing the vertical integration opportunities for Mylan and Matrix.

About Matrix

Matrix Laboratories Limited, a subsidiary of Mylan Inc., USA, is a public limited company listed on BSE and NSE, and is engaged in the manufacture of Active Pharmaceutical Ingredients (APIs) and Solid Oral Dosage Forms. Matrix is one of the fastest growing API manufacturers in India and focuses on regulated markets such as U.S. and EU. The company has a wide range of products in CNS, anti-bacterial, anti-AIDS, anti-asthmatic, cardiovascular, gastrointestinal, anti-fungal, pain management and life style related therapeutic segments. All API and FDF manufacturing facilities of the Matrix are approved by the US FDA. For more information about Matrix, please visit www.matrixlabsindia.com

Disclaimer

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