) generic segment was boosted when the company launched its
generic version of
) anti fungal drug Vfend (voriconazole). The product (oral
suspension) was launched, following the final approval of Mylan's
abbreviated new drug application (ANDA) by the U.S. Food and Drug
Administration (FDA), to market its generic version of Vfend.
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Since Mylan was the first-to-file an ANDA for a generic version
of Vfend, the company was granted 180 days of marketing
exclusivity. As per IMS Health data, Vfend sales in the U.S. were
$17.1 million for the twelve months ended Jun 30, 2013.
Mylan, one of the largest players in the global generics market,
has a presence in more than 140 countries. As of Sep 30, 2013,
the company had 178 ANDAs pending FDA approval, representing
$83.8 billion in annual sales. These include 42 first-to-file
opportunities, representing $23.8 billion in annual sales. The
data released by IMS Health is for the twelve-month period ending
Dec. 31, 2012.
Mylan's generic unit is its main growth driver. Bulk of the
revenues of the company is generated from generic third-party net
sales, derived from sales in North America, Europe, the Middle
East & Africa and Asia-Pacific. Moreover, Mylan has a strong
generic pipeline and should continue benefiting from a large
number of high-value branded drugs scheduled to go off patent in
the next couple of years. These patent expirations should boost
the generic product portfolio of Mylan.
Mylan carries a Zacks Rank #2 (Buy).
) is another Zacks #2 Ranked stock in the generic space.
), another generic player, looks more attractive with a Zacks
Rank #1 (Strong Buy).