Key Stats
Mylan started as a small drug distributor in rural West Virginia with a mission to make medicines accessible in underserved communities. The company transformed into one of the world’s largest generic pharmaceutical manufacturers through strategic acquisitions and organic growth.
Milan Puskar and Don Panoz, both former U.S. Army soldiers who met during service, launched the company initially as Milan Pharmaceuticals. They distributed medicines from the trunk of a Pontiac Bonneville to rural pharmacies and physicians throughout Appalachia.
The company went public in 1973 and expanded its operations from simple drug distribution to manufacturing and developing generic medications. Through decades of growth, Mylan became recognized as an industry leader in bringing affordable alternatives to branded pharmaceuticals to patients worldwide, competing with established pharmaceutical giants including AbbVie and Roche.
Mylan History
Mylan Co-founders
Mylan Acquisitions
Strategic acquisitions transformed Mylan from a regional generic drug maker into a global pharmaceutical powerhouse. The company executed over $25 billion in transactions during its final two decades.
The 2007 acquisitions of Matrix Laboratories and Merck KGaA’s generics business marked a turning point. Matrix provided active pharmaceutical ingredient production capabilities while Merck’s generics division brought established markets in Europe and emerging economies. These deals elevated Mylan to the second-largest generic pharmaceutical company worldwide.
Subsequent acquisitions targeted specific therapeutic areas and geographic expansion. Bioniche Pharma in 2010 strengthened injectable medicines capabilities. Agila Specialties in 2013 added generic injectable manufacturing infrastructure in India. The 2015 purchase of Abbott’s branded specialty and generics lines in developed markets represented the company’s largest transaction at $5.3 billion.
The acquisition strategy continued with Meda AB in 2016 for $9.9 billion, adding respiratory and dermatology products. Renaissance’s dermatology division followed shortly after. These transactions expanded product portfolios across multiple therapeutic categories including oncology, anaphylaxis treatment, cardiovascular medicines, and women’s healthcare, positioning Mylan to compete with major players like Novartis and Takeda Pharmaceutical.
The respiratory delivery platform acquired from Pfizer in 2011 filled strategic gaps in complex, difficult-to-produce medications. This technology enabled development of generic versions of combination inhalers, an area with limited competition. The cumulative effect of these acquisitions created a vertically integrated company with manufacturing, research, and distribution capabilities spanning six continents.
Mylan Market Cap
Market capitalization peaked at approximately $23 billion in 2015 during the company’s aggressive expansion phase.
Mylan Revenue
The company experienced steady revenue growth through strategic acquisitions and market expansion. Peak revenue reached $11.9 billion in 2017.
Mylan Competitors
The generic pharmaceutical industry featured intense competition from both established multinational corporations and regional manufacturers.
| Competitor | Headquarters | Key Strength |
|---|---|---|
| Teva Pharmaceutical Industries | Israel | Largest generic manufacturer globally |
| Sandoz (Novartis) | Germany | Leading biosimilars producer |
| Sun Pharmaceutical Industries | India | Specialty generics expertise |
| Lupin Pharmaceuticals | India | Strong presence in developing markets |
| Pfizer | United States | Established products division |
| Endo International | Ireland | Branded and generic portfolio |
| Apotex | Canada | North American distribution |
| Fresenius Kabi | Germany | Injectable medicines focus |
| Cipla | India | Respiratory medications |
| Aurobindo Pharma | India | Cost-effective manufacturing |
FAQs
What happened to Mylan pharmaceutical company?
Mylan merged with Upjohn, Pfizer’s off-patent medicine division, in November 2020 to form Viatris. The merger created a global healthcare company with combined revenues and an expanded product portfolio serving patients in over 165 countries.
Who founded Mylan and when?
Milan Puskar and Don Panoz founded Mylan in 1961 as Milan Pharmaceuticals in White Sulphur Springs, West Virginia. Both were U.S. Army veterans who met during military service in Japan.
What products was Mylan known for?
Mylan became known for EpiPen auto-injectors, generic versions of major medications, and transdermal patch technologies. The company marketed over 7,500 products including treatments for allergies, cardiovascular conditions, infections, and chronic diseases.
How large was Mylan before merging?
Mylan employed approximately 35,000 people worldwide and generated $11.5 billion in annual revenue. The company operated manufacturing facilities across multiple continents and distributed products to 165 countries before forming Viatris.
Why did Mylan merge with Upjohn?
The merger aimed to create scale advantages in manufacturing, research, and distribution while combining complementary product portfolios. Viatris was designed to expand access to medicines globally through increased operational efficiency and geographic reach.
