Mylan wins ABC award for generic companies

8/12/2008

PITTSBURGH AmerisourceBergen has given Mylan its Manufacturer Award for generic pharmaceutical companies with sales of more than $50 million, Mylan announced Monday.

The Valley Forge, Pa.-based pharmaceutical services company gave Mylan the award for its responsiveness, collaboration and investment in strategic initiatives.

“Being named Manufacturer of the Year by AmericasourceBergen reflects Mylan’s historical commitment to and close working relationship with our business partners,” Mylan North America President Hal Korman said. “We recognize that strong partner relationships are built on mutually supportive initiatives and close collaboration.”

“The synergies derived by combining our respective strengths clearly enhance our customers’ satisfaction,” noted Korman.

Recent fiscal results show signs of a recovery in profit margins. “While we still see integration challenges with Merck KgaA business, we believe long-term synergies plus a robust generic pipeline should drive EPS [earnings per share] growth in years ahead,” noted a recent report from Standard & Poors, the research and rating service.

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