Performance in fiscal 2018
In fiscal 2018, Mylan (MYL) reported revenues of $11.43 billion, a YoY decline of 4%. The company reported adjusted EPS of $4.58, a YoY rise of 0.44%. According to its fourth-quarter earnings conference call, international markets, new product launches, and its robust research pipeline are the key growth drivers for Mylan.
In fiscal 2018, Mylan has been actively transforming its product mix away from commoditized generics to more complex and specialty products.
According to its fourth-quarter earnings conference call, despite pricing generic Copaxone 60% lower than the branded product, the company faced slower-than-anticipated demand in fiscal 2018 due to misaligned financial incentives in the specialty pharmacy marketplace. To counter this problem, Mylan has not only improvised its commercialization strategy for the generic version of Teva Pharmaceutical’s (TEVA) Copaxone, Glatiramer Acetate, but it also plans to apply these learnings in the commercial launch of Wixela Inhub, the first generic version of GlaxoSmithKline’s (GSK) Advair Diskus, in fiscal 2019.
According to the company’s fourth-quarter earnings conference call, in fiscal 2018, Mylan also launched multiple new products such as the biosimilar version of Amgen’s Neulasta, Fulphila, the biosimilar version of Roche Holdings’ (RHHBY) Herceptin, Ogivri, the biosimilar version of Sanofi’s (SNY) Lantus, Semglee, the biosimilar version of AbbVie’s (ABBV) Humira, Hulio, and the biosimilar version of Roche Holdings’ Avastin, ABEVMy. The company has managed to secure regulatory approvals for its biosimilars in 65 countries across the world.
In November 2018, Mylan and partner Theravance Biopharma secured FDA approval for Yupelri in the moderate to severe COPD (Chronic Obstructive Pulmonary Disease) indication. According to the company’s fourth-quarter earnings conference call, Mylan is also actively advancing its seasonal flu vaccines such as the Influvac and Infuvac Tetra in Europe and other international markets such as Canada and Australia.
Mylan and partner Revance Therapeutics are currently working on the development of the biosimilar version for Botox. Additionally, the company has multiple ongoing biosimilar programs in its research pipeline.
To learn more about Pfizer’s growth drivers, please read What Are the Key Growth Drivers for Pfizer in Fiscal 2019?