Mylan’s Growth Strategy: Diversification, Expansion And R&D Investment
The generic drug company will drive mid-term growth by investing in high-barrier-to-entry generics and biosimilars while diversifying into brand medicines and over-the-counter drugs. Management presented a strategy overview during an investor day March 1.
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The combined company will have pro forma 2020 revenues of $19bn to $20bn, generate $1bn in synergies by 2023 and be led by Upjohn CEO Michael Goettler. Mylan's longtime CEO Heather Bresch will depart.
The latest drug approval and development news from our US FDA Performance Tracker.
After meeting with FDA to discuss the status of its Advair generic application in the US, Mylan said it will not have to conduct additional clinical trials and is on target to respond to the complete response letter soon.