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Mylan Inks Deal

Zacks Equity Research

Mylan Inc. (MYL) recently inked a distribution agreement with the privately held Zyomyx, Inc. Following the deal, Mylan gained rights to distribute Zyomyx's point-of-care (:POC) CD4 T-cell count test in developing markets. The CD4 test is applicable for patients suffering from HIV.

Pursuant to the deal, Mylan has made a strategic equity investment in the private entity. We note that the portable, easy-to-use, low-cost test is undergoing the final stages of development and is expected to be launched shortly, assuming approval. Mylan intends to distribute the product in developing markets along with its wide range of high quality, low-cost generic antiretroviral drugs to facilitate HIV treatment in those territories.
Furthermore, Mylan has inked a Global Access Commitment with one of the investors in Zyomix, Bill & Melinda Gates Foundation, to facilitate easy access of the POC CD4 technology to HIV patients in markets, where the disease is highly prevalent.

We note that Mylan was also in the news recently when it launched a wide range of women's care products in the highly sought after emerging market- India.

Moreover, the already established generic portfolio at Mylan was further strengthened when it launched its generic version of Pfizer Inc.’s (PFE) erectile dysfunction drug Viagra (sildenafil citrate) in eleven European nations last month. Mylan’s generic unit has seen quite a few launches over the past few months. Another generic player, Dr. Reddy's Laboratories Ltd. (RDY), too has been making multiple generic launches over the past few months.

Mylan carries a Zacks Rank #3 (Hold). Simcere Pharmaceutical Group (SCR) appears to be more attractive with a Zacks Rank #2 (Buy).

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