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Concept
Mylan
Summary
Mylan N.V. was a global generic and specialty pharmaceuticals company. In November 2020, Mylan merged with Upjohn, Pfizer's off-patent medicine division, to form Viatris. Previously, the company was domiciled in the Netherlands, with principal executive offices in Hatfield, Hertfordshire, UK and a "Global Center" in Canonsburg, Pennsylvania, US.
In 2007, the company acquired a controlling interest in India-based Matrix Laboratories Limited, a top producer of active pharmaceutical ingredients (APIs) for generic drugs, and the generics business of Germany-based Merck KGaA. Through these acquisitions, the company grew from the third-largest generic and pharmaceuticals company in the United States to the second-largest generic and specialty pharmaceuticals company in the world.
Mylan went public on the OTC market in February 1973. It was listed on the NASDAQ, and its shares were a component of the NASDAQ Biotechnology and the S&P 500 indices.
The company was founded in 1961 and developed and produced medicines for a wide range of medical disciplines, including oncology, anaphylaxis, antiretrovirals, cardiovascular, respiratory, dermatology, immunology, anesthesia and pain management, infectious disease, gastroenterology, diabetology/endocrinology, and women's healthcare.
Founded in 1961, the company was first located in an abandoned skating rink in White Sulphur Springs, West Virginia. The facility was moved to Pennsauken, New Jersey in 1962, to Princeton, West Virginia in 1963, and then Morgantown, West Virginia, in 1965, and in 1976 it relocated its corporate headquarters to the Pittsburgh suburb Canonsburg, Pennsylvania. Finally in 2004 it moved to a new office center in nearby Southpointe, a suburban business park located in the Pittsburgh suburb of Cecil Township.
On February 23, 1973, Mylan had its initial public offering (IPO), when it became a publicly traded company on the OTC market under the ticker symbol MYLN. In 1976 the stock moved to NASDAQ.
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