Cabinet approves Mylan's deal to buy Strides unit - Tewari

NEW DELHI (Reuters) - The cabinet on Tuesday approved Mylan Inc's deal to buy a unit of Strides Arcolab Ltd , Information and Broadcasting Minister Manish Tewari said, paving the way for closure of the long-pending transaction.

Mylan, one of the world's largest generic drugmakers, in February agreed to buy the Strides unit, Agila Specialities, for $1.6 billion to expand its presence in the fast-growing injectable drugs market.

(Reporting by Nigam Prusty)