Mylan NV (NASDAQ:MYL) Introduces Generic Sofosbuvir Tablets In India

Mylan NV (NASDAQ:MYL) confirmed that its subsidiary firm, Mylan Pharmaceuticals Private Limited, introduced generic Sofosbuvir 400 mg tablets in India. The new medication is launched under the brand name ‘MyHep™.’ It is meant for the treatment of blood-borne infectious disease known as chronic hepatitis C. As per a report, it affects over 100 million people in the developing world. The number stands at around 12 million people in India.

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The details

Last December, Mylan finalized a licensing and technology transfer deal with Gilead Sciences, Inc. (NASDAQ:GILD) providing Mylan the rights to make and distribute generic Sofosbuvir in a number of developing nations, including India. Rajiv Malik, the President said that the introduction of MyHep gives hope to millions of patients suffering from Hepatitis C. They are in need of effective, affordable and high quality treatment options. The management look forward to spread that same hope to millions of other patients as the company expands access of the new medication in the developing nations.

The significance

Mylan’s MyHep is a vital addition to its booming commercial business in India. It is in fact offered by dedicated sales force team as a part of its Hepato Care division. It also provides four additional innovative and unique segments Women’s Care, Oncology, Critical Care and HIV Care.

Investment plans

In another report released on Monday, Mylan stated that it intends to make additional investments in Andhra Pradesh to extend its operations in India and to support the Pharma industry in the province of Andhra Pradesh. As per an announcement made by the Andhra Pradesh CM, N. Chandrababu Naidu, Mylan intends to invest $5 billion to boost its operations in the province. The news highlighted the latest investment plans as disclosed by Rajeev Mukundan who is senior vice president of Mylan. He is a delegation member representing the USIBC.

Brown Terrel

Brown Terrel

Terrel is US Markets Daily's business news reporter. She joined US Markets Daily after five years as a print reporter.