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Mylan to rename specialty pharmaceuticals unit
February 15th, 2012
PITTSBURGH – Mylan Inc. plans to change the name of its branded specialty pharmaceutical business from Dey Pharma to Mylan Specialty.
The company said Wednesday that Dey is conducting business as Mylan Specialty effective immediately, but Dey Pharma L.P. will continue to be used as the legal entity until all required transition steps are completed.
"In 2007, we united legacy Mylan, Matrix Laboratories and the generics business of Merck KGaA, which included the acquisition of our specialty subsidiary Dey Pharma, and transformed Mylan into the diversified, global business we are today. Over the past four years, Dey's strong performance has played an important role in our successful transformation and continues to be a valuable growth driver for Mylan," stated Heather Bresch, Mylan's chief executive officer.
"The name change to Mylan Specialty is an important milestone and a natural step in our company's evolution. Bringing Dey under the Mylan brand will align our specialty business even more directly with everything Mylan stands for: innovating to satisfy unmet needs, making reliability and service a habit, doing what's right, not what's easy, and impacting the future through passionate leadership," Bresch explained. "Further, operating under one brand will allow us to speak with a more unified and powerful voice as we pursue our mission of providing the world's 7 billion people access to high-quality medicine."
Mylan Specialty has corporate offices in Basking Ridge, N.J. The company also has operations in Allen, Texas, and Napa, Calif. Mylan Specialty has about 725 employees who work on the development, manufacturing and marketing of prescription drugs for the treatment of respiratory diseases, severe allergic reactions and psychiatric disorders.
"The decision to change our name from Dey to Mylan Specialty underscores Mylan's deep commitment to this business," commented Mylan Specialty president John Thievon. "Further, the name change provides us with the opportunity to fully maximize the power of the Mylan brand, its reputation for quality and service, and its strong relationship with customers around the world."