), one of the leading players in the global generics market, has
been focusing on high potential emerging markets like India to
drive growth. Emerging markets are slowly and steadily gaining
more importance and several companies are now shifting their
focus to these areas.
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A prevalent phenomenon in the medical sector is the shift in
focus of several companies on the highly lucrative biosimilars
(generic versions of biologics) market. Biosimilars are expected
to be a significant growth driver in the generics industry in the
coming years. The biosimilars market represents huge commercial
opportunity with a significant amount of biologic sales slated to
lose patent protection in the coming years.
Mylan entered the biologics space by striking a partnership with
India-based Biocon Ltd in 2009. In Feb 2013, Mylan extended its
partnership with Biocon. In an encouraging development related to
biosimilars, Mylan announced the launch of its biosimilar version
) breast cancer drug Herceptin (trastuzumab) in India under the
trade name Hertraz. The drug will be sold under the dosages 440
mg and 150 mg. This is the first time that a Herceptin
biosimilar has been launched anywhere in the globe. We
remind investors that the Drug Controller General of India
cleared the biosimilar in November last year.
We note that Mylan possesses exclusive commercialization rights
for the biosimilar of the breast cancer drug in the U.S., Canada,
Japan, Australia, New Zealand and in the EU and European Free
Trade Association countries. In India, Mylan has co-exclusive
rights with Biocon to market the drug.
In other development related to India and Mylan, it was chosen as
the exclusive branded medicines partner by biopharmaceutical
Gilead Sciences, Inc.
) in the country. Following the deal, Mylan is responsible for
selling Gilead's key HIV drugs like Truvada and Stribild. Mylan
will also market Gilead's Viread (HIV as well as chronic
hepatitis B virus infection) in India following the agreement.
Gilead's AmBisome will also be marketed in India by Mylan going
forward. The deal represents an extension of the agreement inked
by the companies in 2006. The 2006 deal granted Mylan rights to
manufacture and sell its generic versions of Gilead's licensed
HIV treatments in up to 111 developing nations (including India)
where the disease is highly prevalent.
Mylan carries a Zacks Rank #3 (Hold). A better-ranked stock in
the generic space is
) with a Zacks Rank #1 (Strong Buy).