Mylan posts double-digit growth in 2012
PITTSBURGH — Mylan had sales of $1.72 billion in fourth-quarter 2012 and $6.8 billion for fiscal year 2012, the generic drug maker said.
Those figures compared with $1.53 billion in fourth-quarter 2011 and $6.13 billion for fiscal year 2011.
The latest sales figures include $1.58 billion in generics sales and $155.1 million in branded drug sales.
"2012 was an outstanding year for Mylan, with top-line growth of 11% and bottom-line growth of 27% versus last year," Mylan CEO Heather Bresch said.
CFO John Sheehan said the company anticipated further double-digit bottom-line growth in 2013, expecting revenues of between $7 billion and $7.4 billion.
"We believe that our ability to continue to generate consistent growth underscores the power of our global platform," Sheehan said.
Mylan acquires Indian injectables maker
PITTSBURGH — Mylan has bought a manufacturer of generic injectables for $1.6 billion, the company said.
Mylan announced the acquisition of Bangalore, India-based Agila from Strides Arcolab, which Mylan said would allow it to strengthen its injectables business and enter new markets around the world.
"The addition of Agila to our existing injectables platform will immediately create a new, powerful global leader in this fast-growing attractive market segment and accelerate our target of becoming a top-three global player in injectables," Mylan CEO Heather Bresch said. "Further, the acquisition of this unique asset delivers on several of Mylan’s strategic growth drivers by further expanding and diversifying our product portfolio and geographic reach, strengthening our presence in the institutional channel and positioning us to maximize our generic biologics portfolio."
Prescribers continue to show preference for paper prescription pads despite e-prescribing advances, study finds
HASBROUCK HEIGHTS, N.J. — Despite all the promises of e-prescribing, in the land of the newfangled, the old-fashioned still reigns supreme, according to a new study.
The study, by point-of-prescription advertising company MediScripts, found that handwritten prescriptions continued to outpace e-prescribing by more than 60% in 2012. The company said the high volume of MediScripts prescription pad use demonstrated continued physician preference for pen and paper, but use of electronic medical record software has shown increased uptake.
"More than 50% of U.S.-based physicians utilize e-prescribing technology, yet data show that among physicians, a majority also are writing prescriptions on a pad," MediScripts CEO Erez Lapsker said. "Prescribers are considering e-prescribing systems, which are rapidly adapting to meet their needs, but until physicians gain comfort with the technology, many will continue to depend on time-trusted, easy-to-use pen and paper."
The company noted that e-prescribing is an important development, but e-prescribing modules are not functionally perfected and don’t offer the ability to prescribe all medications. Prescribers, it said, need to prioritize their time, and prescription pads allow them to quickly write a prescription and dosage without having to fuss with complicated computer software.