Mylan unit starts commercial ops in India
Mylan Inc Tuesday said its division Mylan Pharmaceuticals Pvt Ltd has begun commercial operations in India with the introduction of 18 anti-retroviral products to treat AIDs and HIV, the news reports said.
The U.S. based generic drug maker acquired majority stake in Hyderabad-based Matrix Laboratories Ltd in 2006.
Matrix Lab continued to supply active pharma ingredients to the U.S. company and a few of its foreign clients.
Post acquisition of 100% stake in Matrix Lab, Mylan de-listed the Indian company, which was still not present in the local pharmaceutical market.
Mylan had already planned to enter the Indian drug formulation market through the acquired entity by renaming it Mylan Pharmaceuticals in May 2011.
According to an analyst with a financial brokerage, Mylan’s strategy to start with HIV drugs in the local market is strategic as the country is home to the world’s third-largest population of HIV/AIDS patients with about 2.4 million people affected by the disease.
In India, 2.4 millon patients suffering from AIDs do not have access to treatment. Mylan’s CEO Heather Bresch said, “We see significant growth potential in India, the world’s second largest pharmaceutical market by volume.”
Mr. Healther also said, “We look forward to continuing to expand our operations in India in additional therapeutic categories.”
The U.S. generic drug maker has been the leader in the global anti-retroviral market for nearly a decade.
Rajiv Malik, President of Mylan Pharmaceuticals said, “Mylan has helped to significantly drive down the cost of ARV therapies.” Mr. Malik also said, “We now offer a portfolio of 43 ARV drugs, and the launch of 18 of these products in India represents an exciting first step in this important market.”
Mylan is a global generic and specialty pharma company which has grown from the third largest generic pharmaceutical company in the U.S. to third largest generic and specialty pharmaceuticals company in the world.