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Mylan NV, a US biopharmaceutical company, reported its first full quarter results on August 3. According to their press release, they booked $7 billion in revenue up 20 percent over year-ago.
According to Reuters, "Mylan said it generated $1.14 billion in revenue, including revenue from its own branded generic and co-branded drugs. Revenue from its generic drugs segment jumped 46 percent to $831 million, while revenue from its branded drugs segment increased 46 percent to $614 million."
The financial success in pharmaceutical sector is not an uncommon story. The US made third most pharmaceuticals available to the government in 2012, according to a Wall Street Journal article, while the UK and Germany were third. "In the past three years, America has made billions of dollars by building products and licensing intellectual property in an industry struggling against falling sales, prices and slowing growth in the health care industry," Journal stated.
In the US, most other countries offer generic competition for their pharmaceuticals, with generics costing about the same amount as their brand name counterparts.
Most people would agree that Mylan's new product, Sustiva, is a worthy best drugstore bb cream us follow-up step in their growth. It is a generic version of Daraprim.
Mylan, in their press release, stated that as their product is intended for "severe" patients who can't afford the drug for themselves, "The company expects the price to decline in long term while maintaining the same level of access to the medication."
One of Mylan's own scientists even said he feels the new product has potential to "change the face" of health care.
Why is Mylan doing this? would a company like Mylan invest billions of dollars to create a generics division, especially if, in 2014, the company's earnings are so limited compared to the competition?
Mylan has a vested interest since the entire Sustiva company is their branded partner. According to Bloomberg, "Founded 17 years ago to become an alternative for people who cannot afford the generic medications, Mylan's strategy is working: its generic Daraprim has surged in sales, and its other generics have reached record highs."
In fact, the company now has more generics on its shelves than any other company apart from GlaxoSmithKline, based on data compiled by Bloomberg.
Even if Mylan doesn't get huge financial returns in the short-term, they should be able bupropion australia depression to profit from growth in the long-term
I could see Mylan making billions by using their new generics to promote a particular medicine; this is the essence of "going public" in the pharmaceutical industry. They may be "going public" to get attention and ahead in their product development.
It is not unreasonable to think Mylan could achieve the above results simply by doing business and.
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