Mylan reaches $7.2 billion deal for Meda

Mylan NV has inked a deal to acquire Meda AB for $7.2 billion. The deal follows an attempt to buy the Swedish drug company in 2014 and comes after Mylan lost a $26 billion hostile bid for Perrigo in November. Mylan said the sale will give the company greater access to new markets, such as China and Russia, while also expanding its OTC offerings.