Pharmaceutical firm sells for €431.25m

THE privately owned Galway-based pharmaceutical company, Bioniche Pharma, has been sold for €431.25 million to US firm Mylan.

The manufacturing base of the group is at Inverin, Co Galway.

Up to 160 people are employed and staff were informed of the sale yesterday, according to a reliable source. It is understood that the business will be developed further by the new owners.