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MYLAN LABORATORIES INC. Pittsburgh, Pennsylvania Run Of Approvals Is Right Rx For Drug Maker.(A)
Byline: GLORIA LAU
With medical expenses on the rise, companies that provide products or services to help cut those costs are flourishing.
One of them is Mylan Laboratories Inc. It's one of the nation's top generic drug makers, with more than 14% market share by total prescription unit volume.
Over the past two years the company has won Food and Drug Administration marketing approval for 20 generics. And though it saw an earnings decline last quarter, its first decline since March 2001, Mylan's top line continues to grow.
Having a fat pipeline of drugs awaiting FDA approval is important because it determines a generic drug maker's future revenue growth, says analyst Ian Sanderson of SG Cowen Securities.
By his estimates, each new drug at Mylan accounts for $10 million to $12 million in added sales.
That gives it a leg up on many rivals, Sanderson says.
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