Word: mylan
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...just talk. His coups this year alone include besting rival financier Wilbur Ross in a bidding war for textile firm WestPoint Stevens, forcing stock buybacks at energy firm Kerr-McGee and drug firm Mylan Laboratories, and (with a stunning 77% of the vote) landing three seats on the board of Blockbuster, the video chain...
According to Wellbridge spokesperson Laura Mylan, about 20 to 30 percent of the gym’s 1,200 members are students...
...struggle over patent extension is where Mylan has assumed the role of crusader for lower-cost drugs. Last year the company helped found a lobbying group called the Campaign for Fair Pharmaceutical Competition. The group is currently pushing to eliminate sections of the Waxman-Hatch Act, a landmark 1984 law designed to promote drug competition. One target: a provision that prevents the FDA from reviewing generic-drug applications for 30 months if the patent holder sues...
...opposing lobbyists have a slightly different spin. Proprietary medications can work better and sometimes protect consumers from potentially unsafe or ineffective generic compounds, according to Alan Holmer, president of PhRMA, a lobby for the brand holders. He derides Mylan's lobbying as "nothing more than a brazen attempt to deflect attention from the generic industry's embarrassment at its recent dramatic price increase and calls for antitrust investigations of their practices...
Whatever happens to Mylan, America's generic-drug industry is likely to emerge much stronger from the current turmoil. Even with delays, brand-name drugs that now account for sales of more than $40 billion a year could become available in generic form by 2008. Based on current pricing, consumers might save an additional $16 billion. And that's not too hard to swallow...