Generic drugmaker Mylan is looking to extend its footprint in India by launching its own prescription drugs in that country over the next year, according to company CEO Robert Coury (photo). As part of this effort, the company plans to rebrand its Hyderabad, India-based subsidiary Matrix Laboratories Limited as Mylan.
The planned name change is subject to approval of India's Registrar of Companies. Mylan expects to retain the Matrix name for the institutional ARV franchise, serving NGOs and other alliances.
"Having led the integration of Matrix and Mylan, I am particularly excited about today's milestone," said Mylan President Heather Bresch in a statement. "Changing Matrix's name to Mylan represents a natural next step for our business in India, and we believe it will produce many benefits."
Mylan purchased API-supplier Matrix Laboratories in 2007. Since then, Mylan has integrated the two organizations, along with the generics business of Merck KGaA, to build a global pharmaceutical platform with $5.5 billion in 2010 revenues, a workforce of more than 17,000 employees, and commercial sales in more than 150 countries and territories, according to a Mylan statement.
- see the Mylan statement