Mylan MYL has launched its generic version of Pfizer Inc.’s PFE Zyvox (linezolid) 600 mg in the U.S. The drug is indicated for adults and children for the treatment of certain infections caused by susceptible Gram-positive bacteria. As per data from IMS Health, in the U.S., Zyvox generated revenues of approximately $457.8 million for the 12 months ending Sep 30, 2015.
Mylan, one of the leading players in the global generics market, boasts a deep generic pipeline. The company’s generic unit has 269 ANDAs pending FDA approval. The ANDAs represent annual sales of $100.8 billion, according to data released by IMS Health. Mylan believes that 50 of these pending ANDAs are potential first-to-file opportunities. Data released by IMS Health further revealed that these 50 ANDAs represent annual branded sales of $35.6 billion for the 12 months ending Jun 30, 2015. Mylan intends to focus its generic product development efforts on products with significant sales in specialized or growing markets or in areas that offer significant opportunities and other competitive advantages.
The generic segment generated revenues of approximately $6 billion in the first nine months of 2015, up 28% from the year-ago period. Although the generics segment at Mylan has been performing well, we remain concerned about the performance of the company’s Specialty segment. The company is facing competitive market conditions for EpiPen Auto-Injector and has lowered the product’s average net selling price.
Mylan holds a Zacks Rank #2 (Buy). A couple of other favorably ranked stocks in the health care sector are Achillion Pharmaceuticals, Inc. ACHN and Teva Pharmaceutical Industries Limited TEVA. While Achillion sports a Zacks Rank #1 (Strong Buy), Teva carries the same Zacks Rank as Mylan.
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