Meda previously rejected a takeover offer earlier this month. The company subsequently said it had been contacted with a proposal to combine the two companies, but Meda's board rejected this, too.
The stock was up 2.01% to $51.36 at noon on Friday.
Mylan CEO Heather Bresch's father sponsored a bill that made it easier for generic drugs to be substituted back in 1986. This helped Mylan become the largest generic manufacturer.
The settlement provides Mylan with global licenses for its trastuzumab product.
A firestorm in Washington has created a fire sale for shares of this undervalued stock.
Chuck Grassley is hammering the privately held drug company on its $4,500 EpiPen competitor.