Mylan Inc. issued the following announcement on April 11.
Global pharmaceutical company Mylan N.V. (NASDAQ: MYL) today will host an Investor Day, which focuses on the global powerhouse's differentiation and durability, including its longtime mission to expand access to medicine, commitment to complex scientific programs and commercial diversification, and significant financial flexibility. Additionally, the presentation highlights recently announced opportunities, including:
Mylan's acquisition of the global marketing rights to a once-monthly Glatiramer Acetate product through a partnership with Mapi Pharma;
a partnership with Fujifilm Kyowa Kirin Biologics to commercialize a biosimilar to Humira®(adalimumab) in Europe (link to announcement);
and Mylan's acquisition of the global development and marketing rights from Prayog Labs for a new, fast-acting formulation of Meloxicam, a non-opioid pain management option.
Mylan CEO Heather Bresch commented: "For nearly 60 years, Mylan has remained true to its core purpose of providing access to medicine. To expand access, we've built tremendous diversity into our commercial, operational and scientific platforms. The result is a durable business model that delivers consistent and reliable results. Today, for example, we estimate that 75% of the cash flows that Mylan generates are stable and durable. We look forward to continuing to engage our many stakeholders about Mylan's unique profile."
Mylan President Rajiv Malik commented: "We are uniquely positioned to maximize opportunities for continued growth and commercial differentiation in the global markets we serve. In parallel, the scientific expertise we have amassed over the past decade fuels our ability to continue driving the company's commercial success. To this end, in 2018 we have dedicated more than half of our R&D investments to complex product development. Complex products represent about 70% of Mylan's overall pipeline value, based on IQVIA brand values. These investments continue to build on our proven ability to develop and commercialize difficult-to-manufacture products for patients."
Chief Commercial Officer Tony Mauro commented: "Mylan has a commercial presence in more than 165 countries and territories around the world. How we leverage this reach and expand in these markets drives our differentiation. Today, for example, more than 60% of Mylan's revenues come from regions outside of the U.S., including Europe and Rest of World. As important, Mylan is poised to outperform market growth in many ex-U.S. countries over the next five years."
Chief Financial Officer Ken Parks commented: "We have committed to maintain strong financial flexibility in support of our business goals, and this disciplined approach is a key component to the durability of our platform. As we have continued to diversify our product portfolio and reach across Mylan's three segments, Mylan has driven strong and sustainable cash flow generation. In addition to reaffirming our 2018 guidance, we remain committed to deleveraging and maintaining an investment grade credit rating."
Biosimilars
Mylan's presentation highlights continued progress on biosimilars across markets and therapeutic areas, including oncology, diabetes and metabolism, and immunology. Regarding Mylan's leading portfolio of 16 biosimilar and insulin analog products on the market or in development worldwide, updates focus on pipeline products' progression through development, filing and approval as well as approved products' commercialization strategy.
Additional Scientific and Product Highlights
Additional highlights include an overview of Mylan's advancing respiratory platform, which focus on preparations for a U.S. generic Advair® launch. Mylan's version, Wixela™ Inhub™, is expected to come to market during the summer of 2018. The company also notes positive developments in Mylan's collaboration with 3M to advance availability of a generic Symbicort® pMDI in the U.S.
Mylan's investment to expand availability of certain global key brands, new pipeline opportunities such as conjugated estrogens, a biosimilar for BOTOX®, and certain healthcare solution services are also highlighted. Management also discusses growth opportunities across Mylan's infectious disease franchise and plans to double the company's over-the-counter, dermatology and injectables businesses.
Interested parties can access a live webcast of the presentation via the investor relations section of Mylan's website at investor.mylan.com. In addition to the webcast, U.S. callers can access the event, in listen-only mode, at 800.514.4861 or 678.809.2405 for international callers (ID#7597227). A replay of the webcast also will be available following the live presentation and can be accessed on the website.
About Mylan
Mylan is a global pharmaceutical company committed to setting new standards in healthcare. Working together around the world to provide 7 billion people access to high quality medicine, we innovate to satisfy unmet needs; make reliability and service excellence a habit; do what's right, not what's easy; and impact the future through passionate global leadership. We offer a growing portfolio of more than 7,500 marketed products around the world, including antiretroviral therapies on which more than 40% of people being treated for HIV/AIDS globally depend. We market our products in more than 165 countries and territories. We are one of the world's largest producers of active pharmaceutical ingredients. Every member of our approximately 35,000-strong workforce is dedicated to creating better health for a better world, one person at a time. Learn more at Mylan.com. We routinely post information that may be important to investors on our website at investor.mylan.com.
Original source can be found here.
Alerts Sign-up