CHAPTER 1 EXECUTIVE SUMMARY 4
Key findings 4
Historical ethical sales performance 5
Therapeutic focus 6
Branded and generic drug outlook, 2006-12 7
Generic drug launch history 7
SWOT analysis 10
Strengths 10
Weaknesses 12
Opportunities 12
Threats 14
CHAPTER 2 CORPORATE HISTORY 19
Key findings 19
Background 20
Key corporate developments 20
Mylan 20
Merck Generics 21
M&A history 22
Matrix acquisition 23
Merck Generics acquisition 24
M&A strategy 25
Deals and alliances 26
Current corporate structure 27
Current management team 29
CHAPTER 3 HISTORICAL PERFORMANCE 30
Key findings 30
Introduction 31
Revenue and growth rate analysis, 2001-06 31
Revenue and growth rate versus generic peer set 32
Product analysis, 2002-06 34
Growth drivers 35
Growth resistors 35
Operating revenue and cost analysis, 2002-06 36
Operating revenue/cost analysis 37
CHAPTER 4 BRAND FORECAST PERFORMANCE 40
Key findings 40
Overview 41
Overview 41
Branded growth drivers 41
Mentax 42
Maxzide 42
Avita, Clorpres and Eldepryl 42
Curosurf (poractant alpha) 43
Dey's respiratory franchize 43
Branded drug launch and expiry outlook 45
Branded drug development programs 47
Apokyn (apomorphine) 47
ENSAM (transdermal selegiline) 47
Nebivolol (nebilet) 47
CHAPTER 5 KEY PRODUCTS AND COMPETITORS 48
Key findings 48
Overview 49
Therapy area focus, 2002-06 50
Generic portfolio 50
Generic and biosimilar products 53
Fentanyl 53
Omeprazole 53
Nifedipine 54
Epipen (autoinjectable epinephrine) 54
Amnesteem (tretinoin) 54
Generic drug launches in 2006 55
Biosimilar outlook 57
CHAPTER 6 APPENDIX 59
IMS versus company-reported data reconciliation 59
References 61
Abbreviations 62
Exchange rates 63
List of Tables
Table 1: Mylan's product licensing agreements, 2000-06 27
Table 2: Mylan's corporate executive committee 29
Table 3: Generic peer set overview, 2006 32
Table 4: Mylan's operating revenue/cost analysis ($m), FY 2002-06 36
Table 5: Mylan's operating cost ratio analysis (% of total revenues), FY 2002-06 38
Table 6: Dey's respiratory franchize forecast sales 2006-12, 7 major markets ($m) 44
Table 7: Key product overview for Mylan combined with Merck Generics, 7 major market sales ($m), 2006 49
Table 8: Generic drugs launched by Mylan and Merck Generics, 2006 56
Table 9: Disclosed potential first-to-file opportunities for Mylan, 2007 57
Table 10: Exchange rates, 2006 63
List of Figures
Figure 1: Historical ethical (generic and brand) global sales performance for Mylan, combined with those of Merck Generics, and the generic pharma peer set (% CAGR), 2002-06 5
Figure 2: Mylan and Merck Generics combined generic therapeutic focus versus generic pharma peer set (%), 2006 6
Figure 3: Mylan's branded and generic drug forecast ($m), 2006-12 7
Figure 4: Percentage revenues attributed to generics launched in the US by Mylan, combined with those of Merck Generics, and the generic peer set, 2002-06 8
Figure 5: Mylan's ANDA submission history, 2002-07 9
Figure 6: Mylan - SWOT analysis, 2007 10
Figure 7: Mylan's M&A history, 2001-06 22
Figure 8: Mylan's acquisition of Matrix, 2006 23
Figure 9: Merck Generic's global positioning, 2007 24
Figure 10: Mylan's corporate structure, 2007 28
Figure 11: Mylan's global ethical sales revenue and growth rate ($m), FY 2001-06 31
Figure 12: Mylan's total global ethical revenue and growth rate compared to generic peer set, 2001-06 33
Figure 13: Mylan's growth drivers/resistors of historical revenue performance ($m), 2002-06 34
Figure 14: Mylan- operating revenue/cost analysis ($m), FY 2002-06 37
Figure 15: Mylan's operating cost ratio analysis (% of total revenues), FY 2002-06 38
Figure 16: Mylan's operating cost ratio versus peer set (%), FY 2006 39
Figure 17: Mylan and Merck Generic's combined branded drug sales, 2002-06 41
Figure 18: Launch, Core and Expiry Portfolio for Mylan's branded franchise, combined with that of Merck Generics, 7 major markets, 2006-12 46
Figure 19: Mylan's top 6 products, seven major market sales ($m), 2006 49
Figure 20: Mylan's generic sales by therapeutic class, combined with those of Merck Generics, 2006 51
Figure 21: IMS versus company-reported ethical sales discrepancy ($m), 2006 60