Mylan won’t sell Merck assets

Mylan Laboratories does not plan to sell off its recent $6.7 billion acquisition of Merck’s generic unit, company CEO Robert Coury said yesterday in a call announcing the company’s quarterly financial results. Instead, Coury described the assimilation as a “company-changing deal.” The move makes Mylan the third-largest generic maker worldwide. Coury added that Mylan’s acquisition of a majority of the India-based drug ingredient maker Matrix Laboratories is causing the company to reevaluate where its generics are manufactured.

"We are now rationalizing what makes sense to manufacture in the U.S. and what makes sense to manufacture in India,” said Rajiv Malik, Mylan’s head of global operations. Coury added that the launch of its generic version of Pfizer’s blood pressure drug Norvasc gave the company its best quarterly revenues ever

- listen to the earnings call