Headquarters: Bunschoten, The Netherlands
2016 generic sales: $9.43 billion
For some time, Mylan’s corporate image will be linked with its damaging EpiPen pricing controversy. But aside from all that negative attention, it has a booming generics engine that generated $9.43 billion in sales last year, according to Evaluate analysts.
The drugmaker had a rough time in 2016 after its EpiPen price increases, made over several years, went public. To appease critics, the company launched an authorized generic and amped up its patient assistance programs. Still, Mylan worked through a deluge of bad PR and is now working to finalize a settlement with the U.S. Department of Justice over alleged Medicaid overcharges on its med.
Despite the controversy, Mylan turned in 18% growth last year to $11.1 billion in total sales, expanding at a clip the company’s larger pharma peers would love to duplicate. But it wasn’t all sunny, as pricing presented a challenge and will continue to pressure results in 2017, President Rajiv Malik said in an accompanying statement.
“We continued to see erosion both globally and in U.S. generics in the mid-single digits which was in line with our expectations, and we continue to expect a comparable environment in 2017 given the breadth and make-up of our global portfolio,” he said.
For 2017, Mylan is expecting 17% growth at the midpoint of its revenue projections.
At the end of 2016, Mylan had more than 35,000 employees around the globe and 247 generic drug applications pending at the FDA, representing nearly $100 billion in sales for the branded versions.
Needless to say, it’s a complicated outfit constantly seeking to challenge Big Pharma’s patents, master manufacturing and supply chain efficiencies, and steal market share from expensive branded meds. It's also pushing into biosimilars, with a Herceptin biosim on the market in India and applications pending in the U.S.
The company has been on a bit of an M&A spree lately, last year picking up Swedish drugmaker Meda for $7 billion and a group of topical skin meds from Renaissance Holdings for $1 billion. With savings to achieve from its M&A spree, the drugmaker late last year said it’d be chopping up to 3,500 jobs.
Mylan is among the companies under investigation by federal officials for potential collusion on generic drug pricing. But despite the controversies, the company announced a $97 million exit package for non-executive director Robert Coury, who stopped being an employee in June.
Mylan first started making generic drugs in the 1960s and today markets more than 7,500 products, according to its website, with offerings in “virtually every therapeutic area.”