Generic Segment at Mylan Boosted - Analyst Blog
February 26 2013 - 11:30AM
Zacks
Mylan Inc. (MYL)
recently announced that it has launched its generic version of
Lupin Atlantis Holdings, S.A.'s Antara capsules (fenofibrate - 43
mg and 130 mg). The company started shipping the product following
the receipt of final US Food and Drug Administration (FDA)
approval.
Antara is approved as an adjunct to diet to reduce elevated LDL-C,
total-C, triglycerides, and Apo B. It is also indicated to increase
HDL-C in adults with primary hypercholesterolemia or mixed
dyslipidemia and to reduce triglyceride (TG) levels in patients
with severe hypertriglyceridemia. Fenofibrate capsules
generated US revenues of approximately $60 million for the 12
months ending Sep 30, 2012, as per data released by IMS Health.
As of Feb 25, 2012, Mylan had 184 abbreviated new drug applications
(ANDAs) pending FDA clearance, targeting $80.7 billion in sales
annually. Mylan believes that about 36 of these pending ANDAs are
first-to-file opportunities, representing $21.1 billion in branded
sales. The revenue figures are as per IMS Health for the 12 months
ending June 30, 2012.
In Jan 2013, Mylan announced that
it received final approval from the FDA TO market its generic
versions of Merck & Co. Inc.'s (MRK) Maxalt
MLT and Maxalt tablets. They are indicated for the acute treatment
of migraine with or without aura in adults.
Our Take
Mylan’s geographic reach and robust generic product portfolio are
contributing to the company’s overall growth. Additionally, Mylan’s
impressive generic pipeline is also encouraging.
However, we remain cautious of the company’s performance in the
Europe, Middle East and Africa (EMEA) region.
Furthermore, as most of the large branded drugs are due to lose
patent exclusivity within the 2017-2018 period, we have little
visibility on the growth prospects of generic companies like Mylan
beyond that timeframe.
Mylan carries a Zacks Rank #2
(Buy). Currently, pharma companies like Lannett Company,
Inc. (LCI) and United Therapeutics
Corporation (UTHR) look more attractive with a Zacks Rank
#1 (Strong Buy).
LANNETT INC (LCI): Free Stock Analysis Report
MERCK & CO INC (MRK): Free Stock Analysis Report
MYLAN INC (MYL): Free Stock Analysis Report
UTD THERAPEUTIC (UTHR): Free Stock Analysis Report
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