Mylan focusing on India
Mylan is on an acquisition spree and is betting big on India
New Delhi, October 30, 2013: The US-based pharma firm, Mylan, one of the largest generic medicine manufacturers across the globe is betting big on India. The company entered India in 2007 with the acquisition of Hyderabad-based Matrix Laboratories for US$ 736 million. The company has acquired seven more companies post that announcement. In fact, the government cleared its biggest buyout of Agila Specialities worth US$ 1.6 billion recently. After the acquisition is completed, Mylan will have a formidable footprint in India with 14 production facilities and over 11,000 employees.
Experts are of a view that Mylan’s India strategy is driven by the cost factor as it is cheaper to produce medicine in India and then export to other markets. However, the company says that its huge focus on India is not entirely because of costs. India is an important market for differentiated quality products and the company is expanding its presence in India for the long run.
At the same time, as the per capita expenditure on healthcare is expected to grow multi-fold in the Indian market in the coming years, the expansion by Mylan is a strategic expansion at the right time.