Mylan takes majority stake in Matrix

In a move to expand its reach around the globe, Mylan Laboratories has acquired a majority interest in India's Matrix Laboratories for about $735 million. For Mylan, the acquisition gives the company access to emerging markets in India, China and Africa as well as a distribution network in Europe. Analysts immediately indicated that this latest deal would only spur new consolidation in the business as foreign outfits looked to India to help cut their costs during a time of intense price competition in the U.S.

- read the report [1] on the acquisition from CNN-IBN