), which operates in multiple countries across the globe, is one
of the leading players in the generic space. Generics represent a
lucrative opportunity for companies in the pharma/biotech space
with a large number of high-value branded pharmaceuticals having
lost market exclusivity and many more slated to do the same in
the next few years.
Apart from the focus on generics, the spotlight on emerging
markets is also highly prevalent in the above-mentioned space.
Many large companies including Mylan are looking to expand their
presence in lucrative emerging markets like India and Brazil.
In a move commensurate with the company's objective to focus on
such lucrative markets, Mylan announced the appointment of Rakesh
Bamzai from the India-based Biocon Ltd. Bamzai will be
responsible for Mylan's commercial activities in India and other
emerging markets. The recruitment of Bamzai as president India
commercial and emerging markets is expected to create significant
value addition to Mylan given his vast experience as president of
Biocon's marketing wing. Furthermore, Bamzai's vast knowledge
about the Indian and global biopharmaceutical market should stand
Mylan in good stead.
We note that Mylan is no stranger to Bamzai and Biocon. In 2009,
Mylan inked a deal with Biocon to develop a biogenerics portfolio
with five products. The agreement was extended in 2013. Mylan's
familiarity with Bamzai's style of operation is expected to be
The first approval for a biosimilar emanating from the
Mylan-Biocon deal was gained late last year when the Drug
Controller General of India cleared the companies' biosimilar
) breast cancer drug Herceptin (trastuzumab). Mylan intends to
sell the drug under the trade name Hertraz following its Indian
launch. Biosimilars are generic versions of biologics.
Mylan's acquisition of Agila Specialties private limited - the
injectable drugs division of India's Strides Arcolab limited - in
Dec 2013 also highlights Mylan's focus on India. The acquisition
has strengthened Mylan's presence in the high potential generic
Mylan carries a Zacks Rank #3 (Hold). Better ranked stocks in the
generic space include
Impax Laboratories, Inc.
). Both these stocks carry a Zacks Rank #2 (Buy).
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