Supplier News Breaks Archives
Mylan set to rebrand Matrix Labs
May 27th, 2011
PITTSBURGH – Mylan Inc. plans to rebrand its Hyderabad, India-based subsidiary Matrix Laboratories Ltd. as Mylan.
Pittsburgh-based Mylan said Friday that since its 2007 acquisition of Matrix — one of the world's largest suppliers of active pharmaceutical ingredients — it has successfully integrated the two organizations, along with the generics business of Merck KGaA, to build a global pharmaceutical platform with $5.5 billion in revenue, a workforce of more than 17,000 employees, and commercial sales in more than 150 countries and territories.
"Throughout the last four years, Matrix has played a unique and important role in Mylan's transformation into the global and rapidly growing company we are today. Not only has Matrix contributed to Mylan's very strong growth through the success of its business, it has also made it possible for Mylan to integrate vertically and realize substantial ongoing operational efficiencies on a global basis. These benefits have been felt commercially in every region in which we operate," Mylan chairman and chief executive officer Robert Coury said in a statement.
"Today, we are building on these accomplishments by announcing our intention to rebrand Matrix as Mylan. This rebranding will lay the groundwork for continued expansion in India through our entry into the Indian commercial market with our own prescription pharmaceuticals within the next 12 months," Coury explained. "We are extremely excited to bring the benefits of our one-of-a-kind global operating platform to India, given the potential we see in this market. In order to support the commercial launch and other growth opportunities in India, we expect to continue to expand our workforce significantly over the coming years."
Mylan said the planned name change is subject to approval of the Registrar of Companies in India. The company added that it expects to retain the Matrix name for the institutional ARV franchise, serving NGOs and other alliances.
In other news, earlier this week Mylan announced that its Mylan Pharmaceuticals Inc. subsidiary has launched oxycodone hydrochloride tablets in dosages of 5 mg, 15 mg and 30 mg, based on a development and supply agreement with Coastal Pharmaceuticals.
According to Mylan, the product is the generic version of Xanodyne's Roxicodone, a treatment for moderate to severe pain.
Oxycodone hydrochloride tablets had U.S. sales of about $325 million for the 12 months ended March 31, according to IMS Health figures provided by Mylan.