Mylan generics in France champion - April 9, 2010
Like many manufacturers of generic drugs – legal copies of original drugs – Mylan is unknown to the general public. Yet the number one generics in France, with a market share of nearly 30% in pharmacies, and the third lab by the volume of drugs sold. In 2009, Mylan has sold 210 million boxes in France and its turnover of 754 million euros, increased by 15%.
For the whole group, the turnover reached 5.1 billion dollars (3.7 billion euros) and net income of $ 582 million. The company listed on Nasdaq is the third generic manufacturers in the world behind Israel's Teva and Novartis subsidiary Sandoz. Pride of place on a huge market.Drug sales amounted last year to 752 billion, said yesterday Didier Barret, president of Mylan Europe, Middle East and Africa, and generics are an important part. In the U.S., they reached last year 71% of sales. The value of generic, cheaper drugs under patent, represents a much smaller share of the pharmaceutical market.
Thus, while they represent 50% of the volume of drugs sold in the EU-27, they weigh only 18% of total sales. A shift appreciated by European governments who save through the credits, 25 to 30 billion euros per year. In France, Social Security has reduced its costs last year of 1.1 billion euros. One third of this gain has been achieved with Mylan.