Mylan Inc.

Type	Public company
Traded as	NASDAQ: MYL NASDAQ-100 Component NASDAQ Biotechnology Index Component S&P 500 Component
Industry	Pharmaceuticals
Founded	White Sulphur Springs, West Virginia, United States (1961)
Founder(s)	Milan Puskar Don Panoz
Headquarters	Canonsburg, Pennsylvania, United States
Key people	Heather Bresch (CEO);[1] Robert J. Coury (Executive Chairman)[2] Rajiv Malik (President)[3] Hal Korman (COO)[4] John Sheehan (CFO)[5] Rod Piatt (Vice Chairman)[2]
Products	Generic pharmaceuticals and branded generics, specialty pharmaceuticals and active pharmaceutical ingredients
Revenue	US$ 6.13 billion (2011)[2]
Operating income	US$ 1.01 billion (2011)
Net income	US$ 536.81 million (2011)
Total assets	US$ 11.598 billion (2011)
Total equity	US$ 3.504 billion (2011)
Employees	approximately 18,000 (2011)[2]
Website	Mylan, Inc.

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,^[6] and the generics business of Germany-based Merck KGaA.^[7] 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.^[8] Mylan now has approximately 18,000 employees,^[2] more than 1,000 separate products,^[2] and serves customers in more than 150 countries and territories.^[2] Mylan has a global manufacturing of more than 45 billion doses.^[2]

Operations[link]

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^[9]
• UDL Laboratories Inc.

Asia Pacific^[10]

• Mylan New Zealand Limited - New Zealand
• Mylan Laboratories Limited - headquartered in Hyderabad, India; operates nine Active pharmaceutical ingredient (API) and intermediate manufacturing facilities located in India and China^[11]
• Mylan Seiyaku Ltd. - Japan
• Alphapharm - Australia

Europe, the Middle East and Africa^[12]

• 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 Mylan. Somerset develops Emsam, manufactured by Mylan Technologies and marketed in the U.S. by Dey, another Mylan company^[18]

History[link]

Location[link]

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 moved to a new office center in nearby Southpointe, a suburban business park located in Cecil Township, 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[link]

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[link]

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. In 2011, Mylan entered into an agreement with Pfizer for the exclusive worldwide rights to develop, manufacture and commercialize Pfizer's generic equivalent to GlaxoSmithKline's Advair® Diskus and Seretide® Diskus incorporating Pfizer's proprietary dry powder inhaler delivery platform.^[20]

Pharmaceuticals[link]

This section needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (April 2011)

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.^[21]

Legal Issues[link]

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.^[22]

References[link]

v t e Companies of the NASDAQ-100 index Activision Blizzard Adobe Akamai Alexion Pharmaceuticals Altera Amazon.com Amgen Apollo Group Apple Applied Materials Autodesk ADP Avago Baidu Bed Bath & Beyond Biogen Idec BMC Software Broadcom C.H. Robinson CA Technologies Celgene Cerner Check Point Cisco Citrix Cognizant Comcast Costco Ctrip Dell Dentsply DirecTV Dollar Tree eBay Electronic Arts Expedia Expeditors International Express Scripts F5 Networks Fastenal Fiserv Flextronics Fossil Garmin Gilead Sciences Google Green Mountain Coffee Roasters Henry Schein Infosys Intel Intuit Intuitive Surgical KLA Tencor Lam Research Liberty Interactive Life Technologies Linear Technology Marvell Mattel Maxim Integrated Products Microchip Technology Micron Technology Microsoft Monster Beverage Mylan NetApp Netflix News Corporation Nuance Communications Nvidia O'Reilly Auto Parts Oracle Paccar Paychex Perrigo Priceline.com Qualcomm Randgold Resources Research In Motion Ross Stores SanDisk Seagate Sears Sigma-Aldrich Sirius XM Radio Staples Starbucks Stericycle Symantec Teva Pharmaceutical Texas Instruments Verisign Vertex Pharmaceuticals Virgin Media Vodafone Warner Chilcott Whole Foods Market Wynn Resorts Xilinx Yahoo!