PITTSBURGH — Generic drug maker Mylan plans to give one of its subsidiaries a new name, the company said.
Mylan announced that it would re-brand its Hyderabad, India-based subsidiary Matrix Labs as Mylan. Mylan acquired Matrix in 2007. Since then, the workforce of Matrix, originally founded in 2001, has grown from about 3,800 employees to more than 8,500. The company, founded in 2001, makes a wide variety of generic drugs, including generic antiretrovirals for HIV/AIDS that have been distributed in developing countries under the President’s Emergency Plan for AIDS Relief.
“Throughout the last four years, Matrix has played a unique and important role in Mylan’s transformation into the global and rapidly growing company we are today,” Mylan chairman and CEO Robert Coury said. “Not only has Matrix contributed to Mylan’s very strong growth through the success of its business, it has also made it possible for Mylan to integrate vertically and realize substantial ongoing operational efficiencies on a global basis.”