Mylan Inc. (MYL) struck a deal Monday to broaden a licensing
arrangement with Gilead Sciences Inc. (GILD), a move that will
allow the generic drug maker to offer products in a handful of new
markets.
Under terms of the deal, Mylan now holds the right to produce
and market generic versions of Gilead's HIV/AIDS therapies if they
are approved by regulators. In addition, the broadened arrangement
allows Mylan to expand production and marketing of several other
Gilead products to 16 additional countries.
"We are pleased to expand our collaboration with Gilead as it
will enable more individuals living with HIV/AIDS in
resource-limited countries to access the newest innovative
medicines," said Mylan President Heather Bresch.
Under the previous agreement, Mylan had non-exclusive rights to
market active pharmaceutical ingredients and products, including
generic versions of Viread, Truvada and other drugs in 95
developing countries.
As the world's third-largest generic-drug maker by sales, Mylan
has posted rising revenue in recent quarters, helped by strong
sales in North America and the Asia Pacific region.
Shares of Mylan closed Monday at $24.33 and were inactive
premarket. The stock is up 15% since the start of the year.
-By Mia Lamar, Dow Jones Newswires; 212-416-3207;
mia.lamar@dowjones.com