“Market Cap $18.34 B As of May 2014
At a Glance
- Industry: Pharmaceuticals
- Founded: 1961
- Country: United States
- CEO: Heather Bresch
- Website: www.mylan.com
- Employees: 20,000
- Sales: $6.97 B
- Headquarters: Canonsburg, Pennsylvania
#816 Global 2000
- #1283 in Sales
- #964 in Profit
- #1306 in Assets
- #601 in Market value
#90 Innovative Companies
Mylan, Inc. is a generic and specialty pharmaceuticals company, through its subsidiaries, which develops, manufactures, markets and distributes pharmaceuticals. The company operates its business through two segments: Generics & Specialty. The Generics segment primarily develops, manufactures, sells and distributes generic or branded generic pharmaceutical products in tablet, capsule, injectable or transdermal patch form, as well as API. The Specialty segment engages mainly in the development, manufacture and sale of branded specialty nebulized and injectable products. Mylan was founded by Milan Puskar and Don Panoz in 1961 and is headquartered in Canonsburg, PA.“
Mylan Pharmaceuticals was founded in 1961 as Milan Pharmaceuticals by Milan Puskar and Don Panoz in White Sulphur Springs, West Virginia. The company moved toMorgantown, 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. The company began as a distributor, but in 1966, Mylan received approval to begin manufacturing penicillin G tablets.
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.
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.
In 2011, the company launched a generic version of famciclovir.”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.”
*Information from Forbes.com and Wikipedia.org
**Video published on YouTube by “mylanlabs“