US drug maker Mylan looking to India as key growth hub
28 May 2011
With the Rs50,000-crore Indian pharma market beckoning, US-based generic drugmaker Mylan Inc has joined the list of firms including Abbott, Sanofi, Merck and Pfizer to formulate strong India plans.
The company was one of the first MNCs to acquire an Indian firm. The $5.5-billion company is now at looking as a key growth market.
According to Robert J Coury, chairman and CEO, Mylan, the company would continue to look for strategic collaboration in India as it had plans to emerge as major player in the country.
The firm is also considering introducing products from its global portfolio of 900 products from therapeutic segments including anti-retrovirals, cancer, pain, cardiovascular systems to India.
According to Coury, over he next 6-12 months the company would come out with a complete launch plan as the anti-retroviral opportunity would be very big for it.
He added that during the Matrix buyout there were concerns over job losses however its workforce had grown from 3,000 then, to over 8,000 at present.