Peter Wagner, president and CEO of Zyomyx, said, "As a diagnostics company, we are excited about the potential impact of this agreement with Mylan, a pharmaceutical company that has access to nearly every HIV/AIDS treatment clinic in Africa through its impressive distribution network. Together, we will be able to ensure that people living with HIV/AIDS in the highest burden countries receive both the testing and lifesaving treatment they need."
Mylan has been a leading global player in the HIV/AIDS arena for more than a decade and a leader in bringing to market innovations that enhance access to treatment, for instance producing fixed dose combinations, which provide a reduced pill burden and once-a-day dosage, and patient-convenient "combo" packs. Mylan also developed multiple FDA/WHO-approved heat-stable ARV products, which can be distributed and used in warm climates where refrigeration infrastructure is not widely available. In addition, Mylan has been a global leader in producing ARV formulations for pediatric use. Today, Mylan supplies high quality ARVs to more than 120 countries around the world and nearly 40% of HIV/AIDS patients receiving treatment in developing countries depend on one of the company's ARV products.
Under the terms of the distribution and supply agreement, Zyomyx will supply the POC CD4 test to Mylan, and Mylan will pay development and commercial milestones and a share of profits to Zyomyx for the exclusive rights to distribute the POC CD4 test in Africa; Asia (excluding Japan and South Korea but including (without limitation) Russia, Central Asia and the Middle East); CEE; CIS; South America and Central America (including Mexico); and the Caribbean Islands. Further, simultaneous with the execution of the distribution and supply agreement, Mylan made a strategic equity investment in Zyomyx and entered into an agreement with the Bill & Melinda Gates Foundation to provide improved and affordable CD4 testing access to patients in high burden HIV countries. All other terms of the agreements are confidential.
This press release includes statements that constitute "forward-looking statements," including with regard to the distribution and supply agreement. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Because such statements inherently involve risks and uncertainties, actual future results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: the impact of competition; failure to achieve anticipated sales; changes in economic and financial conditions of the company's business; uncertainties and matters beyond the control of management; and the other risks detailed in the company's periodic filings with the Securities and Exchange Commission. The company undertakes no obligation to update these statements for revisions or changes after the date of this release.About ZyomyxZyomyx, Inc., a privately held diagnostics company based in Fremont, California, is an innovator in the development and commercialization of proprietary diagnostic platforms. The Zyomyx product development infrastructure and suite of proprietary assay and surface technologies are ideally suited for the development of affordable, disposable point-of-care diagnostic products, designed to increase access to testing. Zyomyx's immediate focus is an advanced but simple and inexpensive CD4 T-cell point-of-care test that will be launched globally and is configured to meet the needs of developing countries. For more information, visit http://www.zyomyx.com. About MylanMylan is a global pharmaceutical company committed to setting new standards in health care. Working together around the world to provide 7 billion people access to high quality medicine, we innovate to satisfy unmet needs; make reliability and service excellence a habit; do what's right, not what's easy; and impact the future through passionate global leadership. We offer a growing portfolio of approximately 1,100 generic pharmaceuticals and several brand medications. In addition, we offer a wide range of antiretroviral therapies, upon which approximately 40% of HIV/AIDS patients in developing countries depend. We also operate one of the largest active pharmaceutical ingredient manufacturers and currently market products in approximately 140 countries and territories. Our workforce of more than 20,000 people is dedicated to improving the customer experience and increasing pharmaceutical access to consumers around the world. But don't take our word for it. See for yourself. See inside. mylan.com SOURCE Mylan Inc.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts