Drugmaker Mylan NV (MYL) highlighted its diversified business at its investor day on Wednesday, April 11, in New York City.
"We've been able to build tremendous diversity around our commercial, operational and scientific platforms," said Mylan CEO Heather Bresch.
The company estimates that 75% of its free cash flows are durable, Bresch said.
Mylan, whose principal executive offices are in Hertfordshire, England and global headquarters are in Canonsburg, Pa., generates about 60% of its revenue outside the U.S. As for its product mix, she noted that generics account for 60%, and the remainder is split between branded drugs and over-the-counter products.
Though Mylan has expanded beyond its roots as a U.S. generics firm, Bresch said she still believes that "we're being valued as a U.S generics company."
Among the topics discussed by company executives were Mylan's biosimilar programs.
In December, the U.S. Food and Drug Administration greenlighted Ogivri, a biosimilar, or copy, of Roche Group RHHBY unit Genentech's Herceptin, which is used to treat breast cancer and metastatic stomach cancer. Mylan developed Ogivri with Biocon Ltd.
Mylan in February said it has teamed up with Revance Therapeutics Inc. RVNC to develop and commercialize a proposed biosimilar of Allergan plc's (AGN) Botox, which has both therapeutic and cosmetic indications.
Mylan officials acknowledged that making a Botox biosimilar is a challenging task, but expressed confidence that they can get it done.
"We're very confident in our ability to deliver a biosimilar Botox product," an executive said, adding: "Addressing the biosimilar question for Botox won't be easy but this is something that we've studied very, very closely. We believe that the science exists to meet this challenge."
Also on Wednesday, Mylan reaffirmed its outlook for 2018. The company continues to expect adjusted EPS to be in the $5.20 to $5.60 range and revenue of $11.75 billion to $13.25 billion.
Earlier in the day, Mylan said it has partnered with Fujifilm Kyowa Kirin Biologics Co., Ltd. to commercialize a biosimilar to Humira (adalimumab) in Europe. AbbVie Inc.'s (ABBV) Humira is used for the treatment of chronic inflammatory conditions.
In a separate announcement, Mylan said it has purchased global development and marketing rights for Meloxicam, a proposed non-narcotic analgesic, from Prayog Labs LLC.
Shares of Mylan closed at $40.39 on Wednesday, down 2.7%. The stock is down 4.5% year-to-date but up 5.1% over the last 12 months.