JOHANNESBURG and PITTSBURGH, Nov. 29, 2012 /PRNewswire/ -- Mylan Inc. (Nasdaq: MYL) announced today that its subsidiary in India, Mylan Laboratories Ltd., a leading manufacturer of antiretroviral (ARV) drugs, has been selected, through its South African-based subsidiary Mylan (Proprietary) Limited (Mylan Limited), as one of the leading suppliers of ARV drugs to the South African National Department of Health for the tender period January 1, 2013 to December 31, 2014.
Mylan Limited secured a R1.12 billion share, which represents 19.1% of the R5.9 billion tender value. As a part of this award, Mylan will supply the South African Government with 31% of the 30 million units of triple therapy fixed dose combination (FDC) called for in the tender. Mylan is pleased to support the Government's initiative to move to triple therapy FDC treatment regimens in South Africa, as such regimens can simplify treatment and improve patient adherence.
Mylan CEO Heather Bresch commented, "Mylan's mission is to provide the world's 7 billion people access to high quality medicines, including affordable ARVs. Only through access to these vital medicines can we stem the tide of HIV/AIDS in South Africa and around the world. This award reinforces Mylan's commitment to provide high quality advanced drugs to help people suffering from HIV/AIDS in South Africa, and we are proud to have been selected as a partner to the South African Department of Health."
"We believe Mylan's selection as a leading supplier to the South African Government's ARV tender reflects our vertical integration, quality manufacturing, global scale and proven-track record of being a reliable partner in supplying affordable ARV medicines across the world. We are pleased to bring this global scale, quality and reliability to the South African market and continue our legacy in fighting HIV/AIDS," said Paul Miller, Managing Director and Vice President of Mylan's South African business.Mylan supplies ARV drugs to more than 120 countries around the world and approximately one-third of HIV/AIDS patients receiving treatment in developing countries depend on a Mylan ARV product. Mylan will be entering the South African market with a comprehensive portfolio of ARV drugs, consisting of first- and second-line adult and pediatric therapies, including several dual and triple FDCs.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV