Mylan

Mylan Inc.

Type	Public (NASDAQ: MYL)
Industry	Pharmaceuticals
Founded	White Sulphur Springs, West Virginia, United States (1961)
Founder(s)	Milan Puskar Don Panoz
Headquarters	Canonsburg, Pennsylvania, United States
Key people	Robert J. Coury (Chairman & CEO)[1][2] Rod Piatt (Vice Chairman)[1] Heather Bresch (President)[3]
Products	Generic pharmaceuticals and branded generics, specialty pharmaceuticals and active pharmaceutical ingredients
Revenue	US$ 5.404 billion (2010)[4]
Operating income	US$ 721.6 million (2010)
Net income	US$ 345.12 million (2010)
Total assets	US$ 11.537 billion (2010)
Total equity	US$ 3.601 billion (2010)
Employees	approximately 17,000 (2010)[4]
Website	Mylan.com

Mylan Inc. (NASDAQ: MYL) is a global generic and specialty pharmaceuticals company headquartered in Canonsburg, Pennsylvania. In 2007, Mylan acquired a controlling interest in India-based Matrix Laboratories Limited, a top producer of active pharmaceutical ingredients (APIs) for generic drugs,^[5] and the generics business of Germany-based Merck KGaA.^[6] Through these acquisitions, Mylan has grown from the third largest generic and pharmaceuticals company in the U.S. to the third largest generic and specialty pharmaceuticals company in the world.^[7] Mylan now has approximately 17,000 employees,^[4] more than 1,000 separate products,^[4] and serves customers in more than 150 countries and territories.^[4] Mylan has a global manufacturing of more than 45 billion doses.^[4]

Operations

Mylan Inc. operates several divisions and subsidiaries:

North America

• Mylan Pharmaceuticals, based in Morgantown, West Virginia
• Mylan Pharmaceuticals ULC (Mylan Canada)
• Mylan Technologies Inc. (MTI) - transdermal drug delivery systems (TDDS) and related technlogies^[8]
• UDL Laboratories Inc.

Asia Pacific^[9]

• Mylan New Zealand Limited - New Zealand
• Matrix Laboratories Limited - headquartered in Hyderabad, India; operates nine Active pharmaceutical ingredient (API) and intermediate manufacturing facilities located in India and China^[10]
• Mylan Seiyaku Ltd. - Japan
• Alphapharm - Australia

Europe, the Middle East and Africa^[11]

• Operate under the Mylan name in Austria, Belgium, the Czech Republic, Denmark, Finland, France, Germany, Hungary, Italy, the Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland, the United Kingdom. Also operates in South Africa.^[12]
• Arcana Arzneimittel GmbH - Germany^[13]
• Generics Pharma Hellas - Greece^[14]
• Gerard Laboratories - Ireland^[15]
• Qualimed - trademark in France, but will stop being marketed under the brand name^[16]
• Docpharma - generic pharmaceutical distribution company in Belgium, the Netherlands and Luxembourg

Other Areas^[17]

• Somerset Pharmaceuticals Inc. is a research and development company in Tampa, Florida, owned by Myland. Somerset develops Emsam, manufactured by Mylan Technologies and marketed in the U.S. by Dey, another Mylan company^[18]

History

Location

Mylan Pharmaceuticals was founded in 1961 as Milan Pharmaceuticals by Milan Puskar and Don Panoz in White Sulphur Springs, West Virginia. The company moved to Morgantown, West Virginia in 1965, and in 1976 it relocated its corporate headquarters to Pittsburgh suburb Canonsburg, Pennsylvania, and finally in 2004 it was moved to a new office center in nearby SouthPointe, Pennsylvania where it is still located.^[19] The company began as a distributor, but in 1966, Mylan received approval to begin manufacturing penicillin G tablets.

Stock

In 1973, Mylan became a publicly traded company on the OTC Market under the ticker symbol MYLN, and in 1976 moved to NASDAQ. Their final stock move was in 1986, when their stock became available for trade on the New York Stock Exchange under the ticker symbol MYL. Currently, the stock is traded on the NASDAQ.

Acquisitions

Mylan acquired Bertek Inc. in 1993, and in 1999 renamed the company Mylan Technologies Inc. Mylan acquired UDL Laboratories, a supplier of generic medications to institutional and long-term care facilities in 1996. In October 2007 Mylan bought the generics arm of Merck KGaA, and renamed the entire corporation from Mylan Laboratories Inc. to Mylan Inc.

Pharmaceuticals

Mylan discontinued private-label manufacturing in 1980 and instead chose to market their products under their own "Mylan-labeled" brand. Their first Mylan-invented product, Maxzide, received approval for treating hypertension in 1984, and was the first new drug to be patented by a manufacturer of generic drugs. By 1995, Mylan had become the most dispensed line of pharmaceuticals in America, according to the December 2004 IMS National Prescription Audit. Sales of Mylan's generic drugs exceeded US$1 billion in 2002, and in 2004 Mylan was added to the S&P 500.

In 2011, the company launched a generic version of famciclovir.^[20]

Legal Issues

In 1989, CEO Roy McKnight testified before the House Oversight and Investigations Committee, exposing corruption within the Food and Drug Administration and a number of generic companies.

In 2000, the company agreed to pay $147 million to settle accusations by the FTC that they had raised the price of generic lorazepam by 2600% and generic clorazepate by 3200%. Mylan obtained exclusive licensing agreements, in 1998, for certain ingredients. The company did not admit to any wrongdoing.^[21]

References

1. ^ ^{a b} "Mylan Announces Change in Board Leadership". Wall Street Journal Online. May 7, 2009. 
2. ^ "Mylan Names Robert J. Coury to Board". All Business. February 1, 2002. http://www.allbusiness.com/company-activities-management/board-management/5891234-1.html. 
3. ^ "People: Mylan Inc.". Reuters. http://www.reuters.com/finance/stocks/companyOfficers?symbol=MYL.O&WTmodLOC=C4-Officers-5. 
4. ^ ^{a b c d e f} "Mylan Inc. Corporate Profile". http://www.mylan.com/about_us/corporate_profile.aspx. 
5. ^ "Mylan buys part of drug maker". Pittsburgh Business Times. December 21, 2006. http://pittsburgh.bizjournals.com/pittsburgh/stories/2006/12/18/daily19.html. 
6. ^ "Mylan Laboratories To Acquire Generics Business Of Merck KGaA For 4.9 Billion Euros". Medical News Today. May 26, 2007. http://www.medicalnewstoday.com/articles/72133.php. 
7. ^ "Pharmaceutical giants tracking Mylan's prosperity". The Pittsburgh Tribune-Review. August 13, 2008. http://www.pittsburghlive.com/x/pittsburghtrib/business/s_582510.html. 
8. ^ http://www.mylantech.com
9. ^ http://www.mylan.com/global_reach/APAC.aspx
10. ^ http://www.matrixlabsindia.com/inside/overview.asp
11. ^ http://www.mylan.com/global_reach/EMEA.aspx
12. ^ http://www.mylan.com/global_reach/EMEA.aspx
13. ^ http://www.arcana.de/
14. ^ http://www.manta.com/coms2/dnbcompany_wsklv1
15. ^ http://www.idaireland.com/search-companies.xml?ss_id=3837
16. ^ http://www.bioportfolio.com/news/pdf/454777/Us-Mylan-To-Withdraw-Qualimed-Brand-From-French-Market-Report.pdf
17. ^ http://www.mylan.com/global_reach/other_areas.aspx
18. ^ http://www.dey.com/
19. ^ http://www.mylan.com/about_us/company_history.aspx
20. ^ "Mylan Launches Generic Version of Famvir® Tablets" (Press release). Mylan. 20 April 2011. http://investor.mylan.com/releasedetail.cfm?ReleaseID=570428. Retrieved 21 April 2011. 
21. ^ "Generic-Drug Maker Agrees to Settlement In Price-Fixing Case". The New York Times. July 13, 2000.