Mylan to invest 1bn USD in India
US based, Myaln reported that they will invest one billion USD in the next 5 to 6 years on capex in India by understanding importance of the India's position in world pharma supply-chain, and pitched for the government incentivising research and development activities. Mylan had been investing close to about 400 to 450 mn USD towards Capex every year and half of it in India.
Mylan is a global healthcare company which have robust portfolio of more than 7,500 products, including biosimilars, generics, brand and over-the-counter remedies. Mylan markets products in more than 165 countries and territories which has global workforce of approximately 35,000.
Rajiv Malik, Global president of Mylan while his visit in India said that Indian government needed to incentivise research and development activities being undertaken by pharma companies on drug development and new chemical entities, though the country upkeeps its leadership position APIs and formulations.
According to him, during the initial few years, investments on R&D would not generate revenues for any pharma company and many Chinese companies are now focussing on the activity and competing with large corporations in USA and the Europe.