Mylan of the Netherlands is rolling out in Canada, generic drugs for the treating HIV.
The three drugs are the company’s generic versions of Gilead’s Truvada (emtricitabine/tenofovir disoproxil fumarate, 200 mg/300 mg), as well as generics of Atripla (efavirenz, emtricitabine and tenofovir disoproxil fumarate, 600 mg/200 mg/300 mg) and Viread (tenofovir disoproxil, 300 mg).
“Mylan has a strong and sustained commitment to expanding access to treatment for HIV/AIDS and other diseases around the world, and today marks another milestone in those efforts,” said Tony Mauro, chief commercial officer of Mylan. “More than 40 per cent of people worldwide being treated for HIV/AIDS with an antiretroviral depend on a Mylan product every day, and we’re proud to further expand access to such medicines in Canada.”
According to Mauro, Mylan has invested $250 million in growing the company’s antiretroviral production capabilities. The company now has the ability to produce 4 billion antiretroviral tablets and capsules each year.
Mylan’s stock bounced back in midday trading August Wednesday 9 from lower-than-expected second quarter earnings, according to a report from CNBC News.
The rebound occurred after Mylan’s management said its generic drug Advair is not being delayed by further FDA-required studies.
Advair is a drug for preventing asthma attacks. It is also used to prevent flare-ups of chronic obstructive pulmonary disease (COPD) associated with chronic bronchitis and/or emphysema.
After shares of the drug maker slipped to 8 per cent in premarket trading, Heather Brech the company’s CEO, told investors that Mylan was delaying the launch of Advair to next year because the U.S. Food and Drug Administration was reorganizing and changing its priorities.
For its second-quarter earnings, Mylan reported revenues of $2.96 billion. The company missed prior estimates of $3.03 billion,
Bresch said Mylan had a “tough quarter” but said the poor numbers were not a “permanent hit.”