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Europe: Key Growth Driver for Mylan

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Aug. 23 2019, Updated 6:01 p.m. ET

European market’s revenue trends

In the third quarter, Mylan (MYL) reported net sales of $1.04 billion from the European market, which is a flat performance on a YoY (year-over-year) basis. According to Mylan’s third-quarter earnings conference call, the company has witnessed strong demand for branded generics and over-the-counter products in the European market.

So far, Mylan has launched 300 new products in the European market in 2018.

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According to Mylan’s investor presentation, the company has a presence in 35 countries and offers more than 1,500 products in the European market. Mylan is already a leader in terms of value and volume in France and Italy’s generic drug markets. The company is a leading player by volume in the United Kingdom’s generics market.

The above chart highlights Mylan’s key opportunity markets in Europe.

Growth opportunities

On April 11, Mylan issued a press release announcing its partnership with Fujifilm Kyowa Kirin Biologics to commercialize a generic version of Humira in Europe. The companies also plan to explore the possibility of commercializing the product in other markets.

On September 20, Mylan issued a press release announcing the European Commission’s approval for Hulio—a biosimilar version of AbbVie’s (ABBV) Humira. On October 19, Mylan issued a press release announcing the commercial launch of Hulio in European markets.

According to Mylan’s investor presentation, Hulio is targeting an opportunity greater than $4.0 billion in the European market.

On March 27,  Mylan and Biocon issued a press release announcing the European Commission’s approval for Semglee—a biosimilar version of Sanofi’s (SNY) Lantus. Mylan plans to launch Semglee in the European market in the second half of 2018.

According to Mylan’s investor presentation, Semglee is targeting a global market opportunity worth $10 billion.

Next, we’ll discuss the prospects for Mylan’s growth strategy in 2018.

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