What is Mylan?
Mylan NV is one of the world’s biggest generic and speciality pharmaceuticals companies. Starting out as a small pharmaceuticals distributor, today the company has sales in some 165 countries and territories across the globe. Mylan NV operates through a range of divisions, delivering generic products, Rx products and active pharmaceuticals ingredients.
The company prides itself on its strong track record of developing new products, especially complex medicines that are difficult to formulate. “We are unconventional, visionary and bold,” the company declares on its website. “We connect the dots others overlook.”
In all, the company has more than 50 manufacturing facilities, a portfolio of over 7,500 generic and branded pharmaceuticals, and employs some 35,000 people including 3,300 scientists. As of mid-April 2018, Mylan had a market capitalisation of around $21 billion.
Who are the key people at Mylan?
Heather Bresch is Chief Executive Officer of Mylan – the culmination of a 25-year career at the company, which she joined as a data-entry clerk. Bresch served as chair of the Generic Pharmaceutical Association’s board of directors in 2016, and is the pharmaceutical industry’s first female CEO of a Fortune 500 company.
Another key figure at Mylan is Rajiv Malik, who as President leads all global commercial and operational activities for the company. Anthony Mauro is Mylan’s Chief Commercial Officer, overseeing all of its commercial businesses around the world; and Ken Parks is Mylan’s Chief Financial Officer.
What is the modern history of Mylan?
Founded in 1961 as Milan, the company changed its name to Mylan in 1972. It went public as part of an expansion drive in 1973, and by the end of the 1970s Mylan was producing five of the 10 most prescribed generic medicines. The mid-1990s saw a period of diversification, when the company acquired Bertek Inc and UDL. In 2002 Mylan reported a turnover of $1 billion for the first time, and two years later it was added to the S&P 500 index.
Another milestone was reached in 2007, when Mylan became a global company by acquiring a controlling interest in Matrix Laboratories and purchasing Merck’s generics business. The acquisition of Bioniche Pharma in 2010 expanded Mylan’s injectable portfolio, and in 2013 it acquired Agila Specialties, creating a global injectables leader.
What are the latest developments at Mylan?
In its full year 2017 financial results, Mylan reported total revenues of $11.91 billion, up 8% on the previous year. Cash provided by operating activities was $2.06 billion, up 1% on 2016, and adjusted EPS was $4.56, down 7%. CEO Heather Bresch described the results as “solid” and said there was a “strong outlook for growth”.
The Mylan share price, which peaked at $76 in April 2015, fell sharply in the third quarter of that year. In 2016 the shares were trading between $35 and $53, and in 2017 between $30 and $45. To find out how the shares are doing right now, follow Capital.com. Our MYL chart puts all the information at your fingertips.
Where does Mylan operate?
Mylan’s global headquarters are in Canonsburg, Pennsylvania, and the company has its principal executive offices in Hatfield, U.K. Mylan has operations all around the world, from North and South America to Europe, China, India and Australia.
Where is Mylan traded?
Mylan NV is listed on the NASDAQ stock exchange, and the stock is a constituent of the NASDAQ-100 and S&P 500 indices. Check out Capital.com for the latest MYL chart. We’ll keep you up to date and in the picture.