Healthcare Industry News: Mylan
News Release - February 15, 2012
Mylan to Change Name of Specialty Subsidiary From Dey Pharma to Mylan SpecialtyPITTSBURGH, Feb. 15, 2012 -- (Healthcare Sales & Marketing Network) -- Mylan Inc. (Nasdaq: MYL ) today announced that it plans to change the name of its fully integrated branded specialty pharmaceutical business from Dey Pharma to Mylan Specialty.
Mylan CEO Heather Bresch said: "In 2007, we united legacy Mylan, Matrix Laboratories and the generics business of Merck KGaA, which included the acquisition of our specialty subsidiary Dey Pharma, and transformed Mylan into the diversified, global business we are today. Over the past four years, Dey's strong performance has played an important role in our successful transformation and continues to be a valuable growth driver for Mylan."
Bresch continued: "The name change to Mylan Specialty is an important milestone and a natural step in our company's evolution. Bringing Dey under the Mylan brand will align our specialty business even more directly with everything Mylan stands for – innovating to satisfy unmet needs, making reliability and service a habit, doing what's right, not what's easy, and impacting the future through passionate leadership. Further, operating under one brand will allow us to speak with a more unified and powerful voice as we pursue our mission of providing the world's 7 billion people access to high quality medicine."
Mylan Specialty President John Thievon said: "The decision to change our name from Dey to Mylan Specialty underscores Mylan's deep commitment to this business. Further, the name change provides us with the opportunity to fully maximize the power of the Mylan brand, its reputation for quality and service, and its strong relationship with customers around the world."
Dey is conducting business as Mylan Specialty effective immediately; however, Dey Pharma, L.P. will continue to be used as the legal entity until all required transition steps are completed.
Mylan Specialty has corporate offices in Basking Ridge, N.J. The company also has operations in Allen, Texas and Napa, Calif. Mylan Specialty has approximately 725 employees who work collaboratively on the development, manufacturing and marketing of prescription drug products for the treatment of respiratory diseases, severe allergic reactions and psychiatric disorders.
Mylan Inc. ranks among the leading generic and specialty pharmaceutical companies in the world and provides products to customers in more than 150 countries and territories. The company maintains one of the industry's broadest and highest quality product portfolios supported by a robust product pipeline; operates one of the world's largest active pharmaceutical ingredient manufacturers; and runs a specialty business focused on respiratory, allergy and psychiatric therapies. For more information about Mylan, please visit www.Mylan.com. For more information about generic drugs, please visit www.ChoosingGenerics.com.
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