About the Company
Mylan N.V. was a generic and specialty pharmaceuticals company headquartered in Canonsburg, Pennsylvania. In November 2020, the company merged with Upjohn, a division of Pfizer to form Viatris. Mylan N.V. shares were traded on NASDAQ under the ticker symbol “MYL”. It was engaged in the manufacturing, marketing and distribution of pharmaceutical products.
Milan Puskar and Don Panoz founded MYL in 1961 as Milan Pharmaceuticals. Fifteen years later, it relocated its headquarters from White Sulphur Springs, West Virginia to Canonsburg.
In February, 1973, Mylan moved to the OTC market, and three years later, it moved to NASDAQ. Following the move, MYL shares became a component of the S&P 500 and NASDAQ Biotechnology indices. In 2011, it launched a generic variant of famciclovir, a guanosine analogue antiviral drug. In 1980, MYL decided to market products under their own brand name. In 1984, MYL received approval for its first drug, Maxzide which was meant for treating hypertension. This was also the first-ever drug to be patented by a company that manufactures generic drugs.
Since its inception, Mylan NV has completed the acquisition of over 10 companies. Two of such acquisitions involved private equity firms. Medical products and life science are the two main sectors that are targeted by the company. MYL has acquired companies in more than 4 states in America. In 1993, MYL completed the acquisition of Bertek Inc. Three years later, it acquired UDL Laboratories that engaged in providing generic medications to healthcare facilities.
Mylan completed its largest acquisition to date when it acquired Merck Generics in 2007 for approximately $5.5 billion. Upon successful completion of the acquisition, Mylan Laboratories Inc. was renamed to Mylan Technologies Inc. In 2011, it secured a contract with Pfizer, an American multinational pharmaceutical company for the exclusive rights to produce, market and distribute Pfizer’s generic equivalent to GSK Group’s Seretide Diskus and Advair Diskus. Moreover, MYL also incorporated a Pfizer-owned dry powder inhaler delivery platform. In February 2012, Mylan Institutional business was the recipient of Novation’s Pharmacy Generic Supplier of the Year Award. It was presented to Mylan at Novation’s Annual Supplier Summit which was held on February 22, 2012. In 2020 Mylan Inc. was ranked 396th on the list of Fortune 500 companies.;
|Organisation||Mylan NV Ord Shs|
|Industry||Drug Manufacturers—Specialty & Generic|